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Oracle: BEA Worth Less Than Original Offer

Oracle Chief Executive Larry Ellison said on Wednesday that if his company were to make another offer for BEA Systems, it would be below its original $17-per-share offer.

Oracle, the world's number-three software maker, withdrew its bid on Oct. 28. BEA has said it would begin negotiations to sell the company with any suitor willing to start talks at $21 a share.

So far, BEA, a business software maker, has not disclosed that anybody has come forth with such a proposal.

"It looks like nobody is going to buy BEA," Ellison said during an analyst meeting in San Francisco.

"At $17 a share, it was a highly accretive transaction. Why were we buying them? For the money," he said. "If we made another offer, the price would be lower."