“Despite growing discontent from Inprise/Borland Corp.
shareholders and accusations from a former director that the
company was ‘duped,’ Corel Corp. president and chief executive
officer Michael Cowpland believes the ‘strategic momentum is very
good’ leading toward the merger of the two companies.”
“‘We have a definitive agreement in place,’ Mr. Cowpland told
reporters yesterday at the .Commerce 2000 business and technology
exhibition at Lansdowne Park where he highlighted Corel’s major
play with the alternative Linux operating system.”
“…In a filing with the U.S. Securities and Exchange Commission
almost two weeks ago, Corel warned that it could run out of cash in
the next three months if the Inprise deal isn’t approved.”
“Yesterday, Mr. Cowpland said Corel would ‘definitely not’
run out of money. ‘We’re used to managing with a tight cash
situation and we’re very confident that we continue to do
so.'”