Sapo opens laboratory at the University of Aveiro

BEA rejects Oracle proposal and sets company price at $ 8.15 billion

Sapo opens laboratory at the University of Aveiro

For the second time, BEA Systems rejected Oracle’s proposal, which expressed an interest in investing $ 6.7 billion in the purchase of the company, equivalent to $ 17 per share. The BEA board of directors asked all its shareholders not to vote on the proposed acquisition, which led Oracle to threaten to withdraw all proposals submitted this Sunday, October 28th.

Now, BEA Systems reports that it is willing to negotiate the sale of the company with Oracle or other companies that are willing to invest $ 21 per share, the amount advised by the consultancy Goldman Sachs.

The price proposed by BEA causes the total value of the company to be fixed at 8.15 billion dollars, that is, 1.45 billion dollars above the price proposed by Oracle.

So far, BEA has rejected all proposals made by Oracle saying that they underestimate the real value of the company.

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2007-10-12 – Oracle offers 4.6 billion euros for BEA