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Newsbytes: Inprise Stalls On Corel Deal

May 12, 2000, 20:03 (4 Talkback[s])

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"Software maker Inprise Corp. [NADSAQ:INPR] has reportedly postponed filing merger documents with the US Securities and Exchange Commission (SEC) pending discussions among stockholders concerned over the pending union with Ottawa, Ont.-based Corel Corp. [NASDAQ:CORL]."

"A report in today's Financial Post newspaper said Corel's biggest deal yet could be in jeopardy as officials of the two firms attempt to negotiate a resolution in anticipation of a new evaluation that is widely expected to say the deal is unfair to Inprise shareholders."

"A marathon round of conference calls and meetings between officials of both software companies and a battery of professional advisers began in this week and are expected to determine the fate of the beleaguered fusion, the report said, adding that Inprise has temporarily delayed filing regulatory S4 merger documents with the SEC pending the outcome of the discussions. "

"The current talks follow a report by US investment bank Broadview International PLC, commissioned by Inprise to study the proposed merger, which indicated the deal would be unfair to Inprise, the report said."

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