"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
"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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