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Oracle Buys BEA For $8.5B

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Jan 16, 2008 

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Sarah Novotny  |

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Oracle Buys BEA For $8.5B

Today, Oracle Corp. won a three-month-long campaign to purchase BEA Systems Inc by raising its initial bid by 14$ to $8.5 billion, reports Reuters.

The largest shareholder for the company Carl Icahn and BEA’s board originally rejected the offer, claiming it undervalued the company until they finally agreed to a $19.375 per share bid in cash.

Share of BEA rose 19% to $18.59 in the NASDAQ trade this morning as Oracle went down 2 cents to $21.29. BEA is the maker of “middleware,” which assists business computer systems in interacting with each other.

Oracle said the deal will increase its adjusted earnings per share by about 1 cent to 2 cents in the first year after closing by the middle of this year.

Tags: acquisitions, bea-systems, finance and oracle

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