Icahn Boosts Stakes in BEA Systems, Temple Inland
Billionaire investor Carl Icahn has boosted his stake in BEA Systemsto 11.05% of the business software maker, which he is urging to put itself up for sale, according to a U.S. regulatory filing.
This is the third time in a under a month that Icahn, who had last reported a 9.88% stake in BEA, has reported an increase in ownership.
Activist shareholder Icahn's notable past campaigns have targeted companies as diverse as media giant Time Warner, handset maker Motorola and luxury builder WCI Communities.
BEA sells software that helps business computer systems communicate with each other. Its WebLogic software competes with products from International Business Machines and Oracle.
Icahn, who first reported an ownership stake in BEA in mid-August, has argued that it is increasingly difficult for a stand-alone technology company such as BEA to prosper because of strong competition.
Analysts have said that potential suitors for BEA might include Oracle, IBM, CA Inc.