Oracle (ORCL) Drops BEA Systems (BEAS) Bid

Posted: October 29, 2007 at 4:40 am

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Oracle (ORCL) dropped its $17-a-share bid for BEA Systems (BEAS) when a deadling set by the larger company passed.

"BEA shareholders should not assume that Oracle will renew its $17 per share offer in the future," Oracle said in a statement quoted by Reuters.

Now BEAS shareholders can watch their stock fall to $13.

Douglas A. McIntyre

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