Icahn Sues After BEA Rejects Oracle Bid

Law360, New York (October 29, 2007, 12:00 AM EDT) -- Software maker BEA Systems Inc.'s decision to turn down a $6.7 billion takeover offer from industry rival Oracle Inc. has raised the ire of billionaire investor Carl Icahn, who has filed a lawsuit against the company demanding a shareholder vote on the matter.

In the lawsuit, filed on Friday in Delaware, Icahn asks BEA to hold a public meeting on Nov. 30 at which a shareholder vote will be taken to determine the fate of the company.

The suit asks the court to prevent the board...
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