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Funds owning Big Winners

BEA SYSTEMS (BEAS) GETS OFFER FROM ORACLE (ORCL) AT A 25%+ PREMUIM 10/12/2007

 BEA SYSTEMS(BEAS) SEC FILINGS http://livermore.brand.edgar-online.com/?sym=beas

FUNDS WHO OWN BEAS SHARES 

Company Name Shares
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bizjournals.com
Oracle makes $6.66B bid for BEA Systems
Friday October 12, 9:46 am ET

Oracle Corp. has offered to buy BEA Systems Inc. for $6.66 billion.

Redwood City-based Oracle (NASDAQ:ORCL - News) is offering $17 a share for the San Jose-based business software company (NASDAQ:BEAS - News) which has been under pressure from investor Carl Icahn to consider a sale.

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The offer is a 25 percent premium on BEA's Thursday closing price of $13.62. The stock lost more than a third of its value between October 2006 and May, trading as low as $10.50 in that time.

"This proposal is the culmination of repeated conversations with BEA's management over the last several years. We look forward to completing a friendly transaction as soon as possible," said Oracle President Charles Phillips.

If Oracle's unsolicited offer is accepted, it would be the company's 35th acquisition since 2005.

Icahn last week increased his stake in the company from 11 percent to 13.2 percent, or 51.8 million shares.

BEA, which has delayed its quarterly and annual financial filings since May 2006, had more than 392 million outstanding shares at that time.

Published October 12, 2007 by the Silicon Valley / San Jose Business Journal

 


Published Friday, October 12, 2007 6:36 PM

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