“Inprise/Borland has every right to second-guess its Corel
marriage. Shareholders have been against the deal because of
Corel’s recent problems. Meanwhile, the value of the stock-swap
merger has plunged from its original terms. On Feb. 7, Corel was
paying $1.07 billion in stock. By March 20, the deal was valued at
just $718 million. Based on Corel’s closing price Thursday, Inprise
is valued at just $371 million.”
“Shares of Inprise/Borland closed at 5 5/16 Thursday, well below
their 52-week high of 20. Corel’s bad news has also been a drag for
Inprise investors. When Corel reported a wider-than-expected
first-quarter loss of $12.4 million, Inprise shares took a tumble.
Corel closed at 6 27/32 Thursday, down from a 52-week high of 44
1/2.”
“The ever-optimistic executives at Corel maintain the
Inprise/Borland merger is on track, but they’ve been wrong before
— especially with Wall Street guidance.”
Web Webster has more than 20 years of writing and editorial experience in the tech sector. He’s written and edited news, demand generation, user-focused, and thought leadership content for business software solutions, consumer tech, and Linux Today, he edits and writes for a portfolio of tech industry news and analysis websites including webopedia.com, and DatabaseJournal.com.
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