Oracle scoffed at BEA last night, describing the middleware's self-set $21 per share price tag as "impossibly high" and saying it had no intention of raising its offer.

BEA has been snubbing Oracle's offer of $17 per share, but yesterday said it would authorise negotiations with Oracle and other bidders at a price of $21 per share – valuing the company at $8.15bn.

Last night Oracle derided BEA's board for seeking "an 80 per cent premium to BEA's stock price before the appearance of activist shareholders who are pushing the BEA board to sell the company".

It went on to twist the knife, saying: "Nobody would seriously consider paying that kind of multiple for a software company with shrinking new license sales."

Oracle restated its call for BEA's board to put its $17 per share offer to a shareholder vote, and reiterated its intention to drop the bid and "move on and evaluate other potential acquisitions" if BEA's directors refuse to play ball. ®

Related stories

BEA slices into two-tier EMEA market with Magirus (21 January 2008)
http://www.channelregister.co.uk/2008/01/21/bea_magirus_two_tier/
BEA finally says yes to Oracle - for $8.5bn (16 January 2008)
http://www.channelregister.co.uk/2008/01/16/oracle_buys_bea/
Oracle slaps SAP in the chops (20 December 2007)
http://www.theregister.co.uk/2007/12/20/oracle_q2_results/
Icahn blasts BEA board as Oracle walks away (29 October 2007)
http://www.theregister.co.uk/2007/10/29/bea_oracle_lapse/
BEA will talk to anyone for $8.3bn (25 October 2007)
http://www.theregister.co.uk/2007/10/25/bea_sets_price/
Oracle and BEA swap public love letters (24 October 2007)
http://www.theregister.co.uk/2007/10/24/oracle_bea_takeover/
BEA and Oracle - doing the math (16 October 2007)
http://www.theregister.co.uk/2007/10/16/oracle_bea_arithmetic/
BEA rejects Oracle bid (12 October 2007)
http://www.theregister.co.uk/2007/10/12/oracle_bea_bid/