Thursday, October 04, 2007

Icahn Raises Stake in BEA Systems (BEAS) to 13.2%

In an amended 13D filing on BEA Systems, Inc. (Nasdaq: BEAS), Carl Icahn disclosed an 13.2% stake (51,820,017 - includes Shares underlying call options) in the company. This is up from the 11% stake disclosed in a 10/03/07 filing.
Icahn did not update the 'Purpose of Transaction' section of the filing, which in the original filing, stated that Mr. Icahn believes that a sale of the company to a strategic acquirer will maximize the price of the shares. Icahn also said he was seeking talks with management to discuss possibilities of a deal and said he may seek to nominate members for election to the Board of Directors.

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