The Corel deal has died... ----------------------------------- Corel cancels acquisition of Inprise/Borland (UPDATE: All figures in U.S. dollars unless indicated) OTTAWA, May 16 (Reuters) - Corel Corp. (Toronto:COR.TO - news)(NasdaqNM:CORL - news) and California's Inprise/Borland Corp.Corel said it agreed to terminate the deal because of ``significant changes'' since the merger was announced in February. The merger had come under increasing criticism because its value -- tied to Corel's stock price on Nasdaq -- has shrunk 73 percent since the deal was announced. Corel stock has slipped from 20 before the deal was struck to a closing trade of 5-13/32 on Monday. Neither firm will pay any termination fees and reciprocal stock option plans have been cancelled, Corel said in a statement. Inprise/Borland had faced a $29.5-million walk-away fee under the deal's terms. A confidentiality agreement between the two companies in advance of their merger remains in effect for a three-year period . ________________________________________________________________________ Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com --------------------------------------------------------------------------- New Zealand Delphi Users group - Delphi List - [EMAIL PROTECTED] Website: http://www.delphi.org.nz
