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BEA finally agrees to let Oracle in
…at a higher price

By Reuters

Published: Wednesday 16 January 2008

Business software maker BEA Systems has agreed to be acquired by Oracle for $8.5bn, the companies have said.

Oracle will pay $19.375 per share, a premium to its offer last year of $17 per share, which BEA had rejected as too low. At the time, BEA said it was worth $21 a share and said it was willing to talk to potential buyers, though none emerged.

Oracle said the deal, valued at $7.2bn net of cash on hand of $1.3bn, would increase its adjusted profits per share by at least 1 cent to 2 cents in the first full year after closing."