Not all M&A's are reason to celebrate. Sometimes they happen guns a-blazing. We get the feeling Oracle's attempt to acquire BEA Systems will be just that kind of socially awkward cold war-type thing. Last Wednesday, Oracle CEO Larry Ellison announced that a future takeover bid for BEA Systems will be less than the US$ 7 billion it was willing to pay last month. He pointed to the stock price and coolly added, "Clearly the $17 price seems too high now." US$ 17 per share was the valuation of Oracle's initial takeover bid. But Ellison's comment is also an acknowledgment of the downturn in value for a number of tech stocks, which hit Oracle hard, according to the Financial Times. BEA's shares have enjoyed a safe plateau as its shareholders anticipate a fresh bid from Oracle. Last month Oracle's offer to buy BEA was rejected because it "undervalued the company." But Ellison remains grimly optimistic, adding at its recent SF-based annual financial analyst meeting, "It looks like no one [else] is going to buy BEA. We were the only buyer then."