BEAS blanches

Oracle played hardball with BEAS, and sent them a letter saying their offer is $17. BEAS hired Goldman who said it's worth $21. When BEAS got it's offer from Oracle, RBC said a strategic buyer like HPQ could pay $25 for BEAS. Where's that offer? The story written here was decidely different than Wall Street's opinions:

Now analysts are speculating that Hewlett Packard will make a counter bid. Does that make sense? HPQ bidding against Ellison? What did they do, read The Art of War and get courageous? Give me a break. Larry Ellison beat the Justice Department when he acquired PeopleSoft. BEAS will go to Oracle.

Maybe BEAS just doesn't want anyone looking at their books.