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Oracle Makes $6.7-Million Offer for SOA Firm

2:44 PM MDT | October 12, 2007 | Esther D'Amico

Oracle (Redwood Shores, CA) says it has made an offer to acquire business software developer BEA Systems (San Jose, CA) for $17/share, or about $6.7 billion, in cash. That is a 25% premium over BEA’s closing prices on October 11, the day before Oracle announced the offer. The proposal “is the culmination of repeated conversations with BEA's management over the last several years,” says Charles Phillips, Oracle’s president. “We look forward to completing a friendly transaction as soon as possible.” BEA’s product offerings...

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