“Value of proposed takeover falls to 52 per cent of original
value.”
“Stock prices of Corel Corp. and takeover target Inprise/Borland
Corp. plunged 22 per cent yesterday after Corel reported big losses
and warned that the poor results will prevail for at least six
months.
“The deep selloff reduced the original deal to just 52 per
cent of the announced value and it put a charge in the campaign of
angry Inprise shareholders led by Don Magie of Toronto.
“‘There is no way that the Corel takeover of Inprise will go
forward now,’ said Mr. Magie.”