BEA counters Oracle's buyout offer

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.

Other share-price earners today included some of San Francisco’s big names: Gap Inc. (GPS), The Charles Schwab Corp. (SCHW) and McKesson Corp. (MCK).

Sun Microsystems Inc. (JAVA) was the most heavily traded Bay Area stock on The Examiner 50 list today, with 19.63 billion shares traded.

businessBusiness & Real Estate

Just Posted

Pregnant women are in the high-risk category currently prioritized for booster shots in San Francisco. (Unai Huizi/Shutterstock)
What pregnant women need to know about COVID and booster shots

Inoculations for immunosuppressed individuals recommended in second trimester

Examiner reporter Ben Schneider drives an Arcimoto Fun Utility Vehicle along Beach Street in Fisherman’s Wharf on Tuesday, Oct. 19, 2021. (Kevin N. Hume/The Examiner)
Could San Francisco’s tiny tourist cruisers become the cars of the future?

‘Fun Utility Vehicles’ have arrived in The City

The Science Hall at the City College of San Francisco Ocean campus is pictured on Jan. 14. The Democrats’ Build Back Better bill would enable free community college nationwide, but CCSF is already tuition-free for all San Francisco residents. (Kevin N. Hume/The Examiner)
What Biden’s Build Back Better bill would mean for San Franciscans

Not much compared to other places — because The City already provides several key features

A directional sign at Google in Mountain View, Calif., on Oct. 20, 2020. Workers at Google and Amazon are demanding their companies pull out of Project Nimbus, a $1.2 billion contract to provide cloud services for the Israeli military and government. (Laura Morton/The New York Times)
Google and Amazon employees criticize $1.2 billion cloud services contract with Israel

‘We can create a world in which tech companies can thrive without doing harm’

Most Read