Oracle's offer to buy BEAexpired on Sunday. BEA shareholders
should not assume that Oracle will renew its $17 per share offer in
the future as Oracle may have commited its capital elsewhere in the
future, said the bidder.
"The reason that
Oracle's £8.10 per share proposal is unacceptable to the board
is because it significantly undervalues BEA, and consistent with
our [legal] duty we will continue to vigorously oppose a sale to
Oracle or anyone else at that price in order to protect the
interests of all BEA shareholders.
"It is important that there be no misunderstanding of the
board's position. We are opposed to selling the company at £8.10
per share. We are not opposed to selling the company," said BEA's
board.
