The Bottom Line
Oracle withdrew its $6.7 billion, $17-a-share bid for business-software firm BEA after its buyout offer expired last night.
Oracle withdrew its $6.7 billion, $17-a-share bid for business-software firm BEA after its buyout offer expired last night. BEA had set a $21-a-share floor for bidding. Leading BEA investor Carl Icahn vowed a proxy fight with BEA’s board. Meanwhile, Trip Chowdhry, an analyst with Global Equities Research, said he thought Oracle would be back. “It’s like buying a car that you want. Sometimes you have to walk away,” he said. (Reuters)
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