Oracle boss: BEA shareholders must decide on buy-out offer by Sunday

John-Paul Kamath

Oracle's president, Charles Phillips, has given BEA's shareholders until Sunday to vote on its offer to buy the company.

In an open letter to BEA's Board of Directors, Phillips said that if BEA doesn't "execute an acquisition agreement" and refuses to let its shareholders vote, that Oracle's share proposal of £8.50 per share would expire on Sunday 28 October.

"Oracle has no interest in a long, drawn-out process to acquire BEA," said Phillips in the letter.

When Computer Weekly asked Oracle to clarify if the letter meant that it would withdraw its offer to buy BEA altogether, or whether it meant it would withdraw just the offer at a price of £8.50, a spokesman said he could not clarify its meaning.

A BEA spokeswoman said it could not comment on the matter.

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