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BEA's fairy tale: over and out?
BEA today told Oracle to go to hell, telling the database vendor that it would let the $17 per share acquisition offer expire.
Together with Oracle's refusal to raise its offer yesterday afternoon, investors now seem to have lost faith in on Oracle takeover. BEA stock closed at $16.50 today. A $17 dollar price would indicate that investors expected BEA to accept the deal. If they anticipated Oracle to raise its offer, you'd expect BEA stock to trade at more than $17.
What will be left on Sunday is a wounded BEA. The company can not reliably tell its customers that it is a viable long term investment. If its shareholders don't see that, they will likely receive a wake-up call in future earnings releases.
October 26, 2007 at 11:49 PM | Permalink
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