Feeds

Oracle and BEA swap public love letters

'I want to be wooed'

Secure remote control for conventional and virtual desktops

BEA invited Oracle to play kiss-chase yesterday, as the database vendor came over all tough and macho in its effort to acquire the middleware firm.

Oracle sent BEA's directors a letter yesterday bemoaning their rejection of its $17 per share offer, and their refusal to meet their counterparts at Redwood Shores.

It called on them to "let BEA's shareholders decide". Apparently, the way to do this is to "sign an acquisition agreement with Oracle" then let shareholders vote to accept it.

The letter claimed that Oracle's offer was generous, and that there were no other offers for the firm. It then threatened to withdraw its offer next Sunday if BEA doesn't begin playing ball.

BEA boss William Klein responded in short order, direct to Oracle pres Charles Phillips, saying that the unsolicited $17 "is not in the best interests of BEA shareholders".

"BEA is worth significantly more than $17 to Oracle, to others, and most importantly to BEA shareholders," he sighed.

Klein then pooh-poohed Oracle's threatened deadline, saying: "Despite your statement that Oracle will withdraw its proposal, we simply cannot accept an offer that seriously undervalues BEA."

BEA then turned coquettish, pointing out that the "board has not indicated that it would be opposed to a transaction that appropriately reflects BEA's value, reached through a reasonable process". It was Oracle that had rejected any such process, he added.

So, in short, BEA's directors are happy to give it up to Oracle, but want to be wooed first. And it would help if Larry can put away the cubic zirconium and produce a nice big fat genuine rock.

So, will it all be over by Sunday? Unlikely. For all its bluster about walking away, Oracle has not shied away from long drawn out takeovers in the past. And with BEA's shares changing hands at $17.87, everyone else is betting that Larry will shell out for a few candlelit dinners before upping his offer. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
ISPs handbagged: BLOCK knock-off sites, rules beak
Historic trademark victory, but sunset clause applies to future blocks
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Getting ahead of the compliance curve
Learn about new services that make it easy to discover and manage certificates across the enterprise and how to get ahead of the compliance curve.