Carl Icahn seeks auction of BEA Systems
Published October 29th, 2007
Billionaire investor Carl Icahn sued BEA Systems, the software maker that spurned a $6.7 billion offer from Oracle, demanding that the company hold an annual meeting and allow shareholders to vote on a sale.
Icahn, BEA’s largest shareholder, said Friday that the company should put itself up for auction. The lawsuit asks for BEA, which is seeking an offer of more than $8 billion, to hold an annual meeting by Nov. 30.
“They should have a fair auction process and let the best bid go to the shareholders, and not do anything to thwart that process,” Icahn said Friday.
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