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From the Blogosphere
Jim Cramer Tries Piggybacking Carl Icahn Stocks, Fails
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<>On the October 12th edition of Mad Money, Jim Cramer interviewed Carl Icahn and congratulated him on the bid by software giant Oracle to acquire BEA Systems (BEAS), which Icahn had been working on for months. Cramer had been recommending BEAS consistently since the summer of 2006 on a takeover possibility. In the December 11, 2006 Lightning Round, Cramer again reiterated his recommendation on the stock stating, "It has obviously been hurt by the options ugly stick, but BEAS should not be punished. That is a legitimate software transaction platform that I think one day, if they don't get the...
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Icahn Sues BEA, Demands Shareholder Vote (BEAS, ORCL)
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Oracle Corporation's (NDAQ:ORCL) bid for BEA Systems Inc. (NDAQ:BEAS) expired on Sunday after the two companies couldn't come to an agreement on a fair buyout price. BEA Systems said it believed its shares were worth $21 each while Oracle called that multiple unreasonable. Many shareholders, like Carl Icahn, believe that shareholders should be the ones deciding - not the company.
<>After letting the offer expire on Sunday, Oracle said in a statement that, "Over the last 20 days the BEA board has repeatedly rejected our offer and refused to meet with us, even though we offered to meet without a...
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Pre-Market Gappers
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Gapping up:
SSRX +8.6%, NSANY +9.6%, RSH +8.0%, AXL +7.9%, CHU +6.9%, HUM +5.7%, NGA +5.7%, RDN +5.6%, CHINA +4.8%...
Gapping down:
GEHL -10.9%, ODP -8.3%, PANC -5.5%, WCG -4.3%, SCHN -3.5%, SILC -3.0%, SNY -1.8%, BEAS -1.5%, CFC -1.3%, ERIC -1.0%.
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Pre-Market Gappers
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Gapping up:
DV +19.1%, PANC +19.0%, ATSI +11.3%, CFC +18.6%, MSFT +13.3%, RDN +13.2%, SWIR +13.1%, WFR +9.6%, DRIV +8.1%, MTG +6.2%, PALM +5.9%, SLT +3.9%, MER +3.4%, NVDA +2.9%...
Gapping down:
VERT -52.5%, TRID -27.5%, RADS -19.2%, VSEA -14.9%, SU -4.6%, BEAS -3.7%, KLAC -3.3%, BIDU -3.1%, ASML -1.3%.
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How Much is BEA Really Worth? (BEAS)
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<>Oracle Corporation (NDAQ:ORCL) will have to increase its offer for BEA Systems (NDAQ:BEAS) by more than 23 percent if it wants to continue negotiations to buy the company. BEA rejected Oracles prior bid of $17 per share made two weeks ago that was set to expire this Sunday. The company, along with its shareholders, are still looking for a sale but at a better price.
BEA believed that Oracle's previous bid significantly undervalues BEA and therefore is not in the best interest of BEA shareholders. The new $21 per share valuation was derived with help from Goldman Sachs and based on analys...
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About BEA Systems Inc
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