"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."
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