Oracle to take over BEA

The middleware company BEA Systems will be taken over by Oracle for $8.5 billion in cash. BEA had rejected the offer made by Oracle and its largest shareholder Carl Icahn had plans to initiate fight with the company over the issue. Oracle will be buying the company’s share for $19.38 per share.

BEA had been asking for $21 a share and it has rejected the initial offers made by the company oracle of giving $17 a share. The BEA chief executive Alfred Chuang said that the buying by Oracle has been a very thoughtful process and Oracle will be using the BEA’s WebLogic Java Server integrated to its Fusion software to increase business.