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CNET News.com: Inprise has Corel offer evaluated for "fairness"

Apr 28, 2000, 13:23 (1 Talkback[s])
(Other stories by Bloomberg News)

"Software maker Inprise said it hired an investment bank to review its proposed acquisition by Linux software maker Corel."

"Inprise hired closely held Broadview to conduct a 'fairness evaluation' of Corel's proposed $1.03 billion purchase of Inprise, a company spokeswoman confirmed."

"Corel, the maker of WordPerfect software, said in February that it had agreed to buy Inprise for $1.03 billion in stock. The companies said the merger was designed to expand their ability to develop and sell Linux, a computer operating system that competes with Microsoft's Windows software."

"The value of the transaction has dropped as Corel's share price has slipped. Corel shares fell 22 percent on March 21 after the company reported a larger-than-expected loss for its first quarter and said results for the next two quarters would also be worse than expected."

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