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.
Some on Wall Street don't have faith that Icahn can get a deal done with BEA and recently BEA executives have said in the media that they are not for sale. This from a company that has been rumored takeover bait for as long as I can remember.
Maybe Carl should call up Oracle's (Nasdaq: ORCL) Larry Ellison -- which by the way reported a nice quarter after the close. Larry hasn't made too many headlines lately. It would be good for Larry's ego - which is already near-bubble levels - to get a deal done with the we're-not-for-sale (wink wink) software maker and make a few headlines. It's all about ego anyway - Isn't it?