In a new twist to the corporate-takeover drama playing out in the Bay Area this week, San Jose’s BEA Systems Inc. (BEAS) made a counter-proposal to Oracle Corp.’s (ORCL) $17-per-share buyout offer, telling the larger Redwood City firm that it would sell for $21 per share, according to Information Week.
BEA closed the day with its shares down 0.11 percent at $17.53 per share. Oracle closed the day with its share price at $21, a decline of 0.85 percent.
The market closed down overall, with the Dow down 0.02 percent, the Nasdaq down 0.86 percent and the S&P 500 down 0.10 percent.
Bay Area firms that saw stock price increases were led by VMware Inc. (VMW) of Palo Alto, whose shares closed up 10.12 percent. It was the largest share-price increase of the 50 top Bay Area stocks tracked by The Examiner. The rise was preceded by strong earnings revealed in its first-ever quarterly report since its initial public offering, according to Marketwatch.com.
Sun Microsystems Inc. (JAVA) was the most heavily traded Bay Area stock on The Examiner 50 list today, with 19.63 billion shares traded.