“Corel Corp. Chief Executive Michael Cowpland reassured
jittery shareholders at the firm’s annual general meeting on
Wednesday that he is confident a merger with Inprise/Borland
Corp. will succeed despite the resignation of a key executive from
the California software developer’s board.”
“Robert Coates said late on Tuesday he had left
Inprise/Borland’s board on February 6 to protest the deal…”
“Shares in both firms made gains on Wednesday despite the news.
Corel added 15/16 on the Nasdaq to close at 14-1/8, while Inprise
added 23/32 to end at 9-3/16.”
“‘We’re very confident of it going through, because as we roll
out the benefits of the plan I think it becomes obvious: the
fantastic strategy,’ said Cowpland in a press conference.”
“Corel shares have slipped 27 percent and Inprise/Borland shares
31 percent on the Nasdaq since the deal was announced.”