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ComputerWorld: Corel says it may run out of cash if Inprise merger falls through

Apr 21, 2000, 17:32 (2 Talkback[s])
(Other stories by Brian Sullivan)

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"In its latest filing with the U.S. Securities and Exchange Commission, Ottawa-based Corel Corp. announced it could run out of cash in 90 days if its merger with Scotts Valley, Calif.-based Inprise/Borland Corp. doesn't go through and current financial troubles continue."

"Corel recently posted a first-quarter loss of $12.4 million, and in its 10-Q quarterly financial filing of April 19, the company said it expected to post more losses over the next six months."

"A former director of the company has filed suit trying to block the merger, calling it "unfair." On April 10, the two companies announced that the merger waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 had expired."

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