I don't need to repeat the logic, but here's an interesting scenario whereby Oracle scares down Red Hat's value such that it becomes an attractive takeover target.
I'm not sure Red Hat Enterprise Linux (not to mention JBoss) owned by Oracle would make enterprises particularly happy. Oracle did dance, if not date, JBoss before the Red Hat acquisition. A case of a woman scorned? And Oracle has certainly been bold before.
Such an M&A would give Oracle a lot of power in platform markets and alliances it has only modest leverage in to date. The hardware people may find themselves in a different Linux world lickety-split.
And wouldn't a Red Hat division of Oracle make Novell a lot more valuable, and itself a takeover target from, let's say, IBM or HP? Yes, indeed, Oracle's little maneuver this week certainly has shaken up the IT landscape.