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Reuters: Renewed takeover rumors fuel major gains for Corel

“Software developer Corel Corp. (Toronto:COR.TOnews)(Nasdaq:CORLnews) racked up major
stock gains on Tuesday as revived rumors of a takeover by Adobe
Systems Inc. (Nasdaq:ADBEnews) picked up
steam.”

“Acquisition rumors first surfaced in February as Corel’s board
of directors approved a poison pill plan to discourage takeovers.
The acquisition was flatly denied at the time by both firms.”

“Corel shares may also be buoyed by initial public offering
plans by Red Hat Software Inc., which supports a free operating
system called Linux.”

“‘If anybody’s going to benefit from this Linux thing happening
on the PC…then Corel is the number one company to benefit because
they have the products ready for Linux,’ said one Bay Street
watcher, who asked not to be named.”

Complete
story.