Oracle rejects $8.2 billion acquisition demand from BEA Systems

Oracle rejects $8.2 billion acquisition demand from BEA Systems

Oracle Corp has announced that they are rejecting the offer made by BEA Systems to acquire them for a price tag of USD 8.2 billion.

Oracle has been interested in acquiring BEA but this price was rejected as they believed that the price was impossibly high for the worth of the company.

BEA incidentally is facing pressure from billionaire investor Carl Icahn who wants them to sell itself to a bigger player in the market.

So far only Oracle has shown its interest. Oracle President Charles Phillips wrote on this price demand by BEA: “Nobody would seriously consider paying that kind of multiple for a software company with shrinking new license sales.”