x
Optical/IP

Oracle Lets BEA Go

9:00 AM -- Oracle Corp. (Nasdaq: ORCL)'s $17 per share offer for BEA Systems Inc. (Nasdaq: BEAS), made earlier this month, expired on Sunday after the BEA board announced it would only enter into takeover talks with companies offering at least $21 per share.

Oracle says BEA shareholders should not assume a new offer will be forthcoming.

So now what? Well, BEA's share price is down $0.49, nearly 3 percent, to $16.01 in pre-market trading Monday morning. And that's way down from the $18.63 that BEA's stock hit the day of Oracle's offer as investors smelled a potential bidding war.

There's also the prospect of a battle between investor Carl Icahn, who wants a sale to the highest bidder, and the BEA board. See this MarketWatch report for more details.

— Ray Le Maistre, International News Editor, Light Reading

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