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InfoWorld: Inprise seeks advice on Corel merger terms

Apr 28, 2000, 17:43 (0 Talkback[s])
(Other stories by Terho Uimonen)

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"The pending merger between software vendors Corel and Inprise/Borland looks to be on shaky ground. Following a recent slide in the share price of its proposed merger partner, Inprise/Borland announced Thursday that it has asked its financial advisor to re-evaluate the "fairness" of the financial terms of the agreement the two inked on Feb. 6."

"Inprise/Borland's board of directors has requested Broadview International, which also advised the company in February, to update its opinion on the fairness of the transaction terms, from a financial point of view, to Inprise/Borland shareholders, the software development tools maker said in a statement."

"Under the terms of the February merger agreement, holders of Inprise/Borland stock would receive .747 of a Corel common share for each share of common stock in Inprise/Borland. At the time, the deal was valued at $2.44 billion."

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