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Ahead of BEA Systems Investor Presentation, Carl Icahn May Be Wasting His Time (BEAS)

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By Douglas A. McIntyre Updated Published
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Carl Icahn is a powerful investor when he wants to be.  As far as BEA Systems (NASDAQ:BEAS) he increased his stake in a filing on Friday to more than 33 million shares to what amounts to an 8.5% stake in the company.  His take on BEA Systems is that consolidation has hurt growth and that the company would do better as a unit of a larger parent. 

BEA Systems used to be one of the perpetual takeover rumor stocks out there.  But the problem is that this company cannot be bossed around.  The company is still delinquent in some of the required filings, and it is deemed to be a company that Alfred Chuang (the Founder, Chairman, CEO, and President) can enact anti-takeover provisions.  That may have changed, but that is still the belief of many tech investors.

We previously asked if BEA Systems was any closer to a buyout offer.  BEA has been a perpetual stock where the company has said it wants to remain independent, and the belief is that this can ONLY be done on a friendly basis.

Shares closed up almost 4% at $13.25 on Friday and are up marginally at the end of today.  It seems that many others also that Carl Icahn may only be marginally successful in this particular instance.  BEA Systems’ head of investor relations is set to speak at a Bank of America conference Tuesday. September 18, at 4 PM Pacific Time, so this may be one to watch later today if this gets addressed.

Jon C. Ogg
September 17, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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