Inter@ctive Investor: Investors cheer Inprise-Corel breakupMay 16, 2000, 15:43 (0 Talkback[s])
(Other stories by Tiffany Kary)
"Inprise/Borland Corp. (Nasdaq: INPR) and Corel Corp. (Nasdaq: CORL) said Tuesday they are calling off their proposed merger. In early trading, Corel's shares were up 21 percent and Inprise shares gained 15 percent to 6 3/4."
"The deal was terminated through a mutual agreement, the companies said, and no termination fees will be paid. The reciprocal stock option agreements have also been terminated. "
"Inprise/Borland announced April 28 that it had asked its financial adviser for an updated opinion on the fairness of the exchange ratio for its pending acquisition by the Canadian software developer. Apparently, the adviser wasn't impressed."