Via Roy Russo’s heads up:

Oracle, in letter to BEA Systems’ board, offers cash at a 25% premium; says it seeks friendly acquisition.

From TSS via CNN:

“We believe our all cash offer provides the best value for BEA’s shareholders and the best home for BEA’s employees and customers,” said a statement from Oracle President Charles Phillips. “This proposal is the culmination of repeated conversations with BEA’s management over the last several years. We look forward to completing a friendly transaction as soon as possible.”