Reuters: Key resignation hits Corel takeover target Inprise

“In advance of Corel Corp.’s annual general meeting on
Wednesday, the software developer’s takeover of Inprise/Borland
Corp. is being questioned after an Inprise director and key
shareholder announced his resignation.”

“Robert Coates, who owns more than 3 million shares of Inprise,
announced late on Tuesday that he had resigned from the Inprise
board of directors on February 6 in advance of a vote on the merger
between Corel and Inprise.”

“Coates said in a statement that he will oppose the merger
unless it results in substantially higher prices for Inprise
shareholders and can be shown to benefit Inprise customers.”

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