Oracle’s bid to acquire middleware developer BEA Systems has expired with the passing of the 28 October deadline.

Earlier this month, Oracle had offered to acquire BEA for $17 a share, valuing the company at $6.7bn. This offer was repeatedly rejected by the BEA board, who refused to meet with Oracle and did not put the proposal to its shareholders.

In a letter to Oracle on 26 October, BEA said, “Our board cannot endorse a proposal that it has concluded significantly undervalues BEA.” BEA put forward a counter-proposal of $21 a share, which was rejected by Oracle.

On the passing of the deadline, Oracle warned that BEA shareholders should not assume that the database giant will renew its $17 share offer in the future. “Over time many things can change: BEA's business might materially weaken, the stock market can fall further from its recent record highs, or Oracle may have committed its capital elsewhere,” Oracle said.