Oracle Corporation (NASDAQ: ORCL) has got approval to acquire BEA Systems Inc.
The European Commission has finally approved the deal that was offered on January 16, 2008. Oracle signed a definite agreement to buy BEA for $8.5 billion. It is believed that Carl Icahn, one of the company's most prominent shareholders, was the main reason that the deal happened.
Oracle and BEA will provide a series of complementary and well-engineered middleware products, allowing customers to more easily build and manage applications in a secure environment.
Earlier this month BEA approved the move with about 99.9 percent of the shares entitled to vote and present voting to adopt the merger, accounting for about 68.6 percent of outstanding shares.
The choice of the city of Helsinki is not incidental as the capital of Finland had hosted US-Soviet negotiations on the limitation of nuclear stockpiles in 1969