Paul Krill
Editor at Large

BEA to open books to Icahn

news
Nov 5, 20071 min

BEA Systems said Monday it plans to provide confidential information to disgruntled investor Carl Icahn about why the recently expired $17-per-share bid for the company submitted by Oracle was too low.

“We are pleased to be able to share non-public information about BEA’s business with Mr. Icahn,” said CEO Chairman/CEO Alfred Chuang, in a statement released by the company. “We are confident this information will enable him to appreciate that the $17-per-share bid from Oracle significantly undervalues BEA in a sale.”

Chuang in the statement also said he wanted to dispel any speculation that the company would engage in “scorched earth” transactions at shareholders’ expense or discourage a fully valued acquisition of the company.

BEA’s goal has been to maximize shareholder value, Chuang said. Icahn has sought a BEA shareholder meeting to take bids on the company.

Paul Krill

Paul Krill is editor at large at InfoWorld. Paul has been covering computer technology as a news and feature reporter for more than 35 years, including 30 years at InfoWorld. He has specialized in coverage of software development tools and technologies since the 1990s, and he continues to lead InfoWorld’s news coverage of software development platforms including Java and .NET and programming languages including JavaScript, TypeScript, PHP, Python, Ruby, Rust, and Go. Long trusted as a reporter who prioritizes accuracy, integrity, and the best interests of readers, Paul is sought out by technology companies and industry organizations who want to reach InfoWorld’s audience of software developers and other information technology professionals. Paul has won a “Best Technology News Coverage” award from IDG.

More from this author