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BEA Systems enters confidentiality agreement with Icahn
By Lisa Kerner
Charlotte, N.C., Nov. 5 - Carl C. Icahn entered into a confidentiality agreement with BEA Systems, Inc., according to a schedule 13D filing with the Securities and Exchange Commission.
Under the Nov. 5 agreement, BEA Systems said it furnish to Ichan "certain financial information about its business performance that is not publicly available in support of its public position with respect to the value of the company," the filing stated.
It was previously reported that Icahn urged BEA Systems to avoid a proxy fight with Oracle Corp. by conducting an auction process and letting shareholders decide the fate of the company.
BEA Systems refused Oracle's $17-per-share offer, believing it to be too low, and said it was seeking an offer of at least $21 per share.
BEA Systems is based in San Jose, Calif., and makes enterprise application and service infrastructure software.
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