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Icahn now owns 11.05% of BEA Systems
By Lisa Kerner
Charlotte, N.C., Oct. 3 - Carl C. Icahn and his affiliates including High River LP bought call options exercisable for 26,045,147 shares of BEA Systems, Inc. common stock between Aug. 8 and Oct. 2.
The options have an exercise price of $7.50, according to a schedule 13D filing with the Securities and Exchange Commission.
Including the shares underlying the call options, Icahn and the reporting persons own 43,320,017 shares, or 11.05%, of the San Jose, Calif., software company.
On Sept. 14, Icahn urged the company to put itself up for sale due in part to increased competition in the software market, a prior SEC filing stated.
Icahn may seek to have BEA hold an annual meeting and may also seek to nominate individuals for election to the company's board. BEA has not held an annual meeting of shareholders since July 2006, a prior release stated.
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