Following the SAP's BO purchase, Oracle too made its move:
Oracle Corp., the third-largest software company, made a hostile $6.7 billion bid to buy BEA Systems Inc., sending shares of the business-program maker above the offer price on speculation rival suitors will emerge.
BEA stock jumped 38 percent to $18.82, topping the $17-a- share cash bid. Oracle's proposal is 25 percent more than yesterday's closing price as Chief Executive Officer Larry Ellison pursues growth through acquisitions. BEA rejected the offer, saying it ``significantly'' undervalued the company.