BEA says "no way" to USD 6.66bn Oracle offer

The Oracle/BEA acquisition seems to be doomed after the middleware company said that the money offered was substantially less than what the company and its shareholders expected.

Oracle offered a 25% premium on BEA stock value on the 11th of October.

Since Oracle went public with its acquisition plan, BEA stocks went up by nearly 40%, which effectively added USD 800 million overnight to the company's value.

Analysts though say that a BEA purchase is a matter of "when", rather than "whether" because of the marked increase in competition in the sector.

Had BEA agreed to Oracle's offer, it would have been Oracle largest purchase since the acquisition of Peoplesoft for USD 10.3bn back in December 2004.

During the past two years, Oracle has added Siebel Systems and Hyperion Solutions to its portfolio.