Summary
Oracle Corporation (ORCL) has officially completed its acquisition of BEA Systems, Inc. through a merger completed on April 29, 2008. This significant transaction, previously announced on January 16, 2008, involved Oracle's subsidiary, Bronco Acquisition Corporation, merging with BEA Systems. Each outstanding share of BEA common stock was acquired for $19.375 in cash, without interest, marking a substantial cash outlay for Oracle. This acquisition is expected to bolster Oracle's product portfolio and market position within the enterprise software sector.
Key Highlights
- 1Oracle Corporation completed the acquisition of BEA Systems, Inc. on April 29, 2008.
- 2The acquisition was structured as a merger where BEA Systems became a wholly-owned subsidiary of Oracle.
- 3BEA Systems shareholders received $19.375 in cash for each share of common stock.
- 4The transaction was a significant cash-intensive deal for Oracle.
- 5The official announcement of the acquisition's completion was made via a press release filed as an exhibit.
- 6Detailed financial statements and pro forma information for the acquired business will be filed in an amendment within 71 days.
Frequently Asked Questions
The main event is the completion of Oracle Corporation's acquisition of BEA Systems, Inc., which occurred on April 29, 2008.
BEA Systems shareholders received $19.375 in cash for each share of BEA common stock they held, excluding certain treasury shares or shares owned by Oracle.
The financial statements of the acquired business and pro forma financial information will be filed by amendment within 71 calendar days after the filing of this Form 8-K.
Bronco Acquisition Corporation, a wholly-owned subsidiary of Oracle, was the entity that merged with BEA Systems, with BEA surviving the merger as a subsidiary of Oracle.