Hey, Icahn, Haven't You Heard Of Playing Hard To Get?

from the blowing-it dept

Despite having publicly pushed BEA to sell itself, Carl Icahn’s initial response to Oracle’s takeover attempt was to say that the offer was too low at $17 per share. BEA itself responded by counteroffering at $21 per share. However, Oracle stood fast and said that since there didn’t appear to be any competition, it saw no reason to raise the bid. It also said that the $17 offer would expire Sunday night. Of course, seeing as it’s now Monday, the offer has, indeed, expired. Yet, Carl Icahn isn’t happy. He’s now demanding that BEA put the $17 offer to a shareholder vote and is threatening to sue over it. Perhaps it’s just me, but this feels like one of those situations in a bad movie or TV show where two sides are negotiating, and even though one side has instructed everyone to stand firm and play hard to get, as soon as the other side stands firm itself, one guy in the corner gives in and says “take the deal guys! take the deal!” You can almost hear the sighs of exasperation from BEA’s board members muttering under their breath and trying to kick Icahn to stay quiet for a little longer to see if Oracle comes back again with another bid.

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Companies: bea, oracle

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Comments on “Hey, Icahn, Haven't You Heard Of Playing Hard To Get?”

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Max Powers at http://ConsumerFight.com (user link) says:

Has Carl Ichan forgot how to negotiate?

It’s like selling something at the swap meet. The guy makes you an offer and when he doesn’t like your counter offer, he starts walking away from your stand forcing you to make a judgement.

Do you call him back as he walks away or wait for him to walk around a little more and see if he comes back upping his offer. Same game, just bigger money.

How could Carl forget how to play the game?

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