Oracle offered to buy BEAS for $19.375/share or approximately 8.5B. BEAS stock was up almost 20% on the news, closing at $18.46.
Oracle Corporation announced that it has offered to buy BEA Systems for more than $6.66 billion. This equals to an offering of $17 per share of BEA systems, which is a 25 percent premium over the closing price on October 11, 2007. Oracle plans to expand its product portfolio and compete with its rival SAP AG in a better manner. The share price of BEA systems rose over the offer price, which indicates that the investors feel that Oracle can still increase its bid price.