Robert Coates Offers Borland Software $150 Million for Legacy Products -- Borland Rejects Offer
Posted on: Wednesday, 21 September 2005, 15:00 CDT
Headline of release should read: Robert Coates Offers Borland Software $150 Million for Legacy Products -- Borland Rejects Offer (sted: Robert Coates offers Borland Software $150 Million Offer for Legacy Products -- Board Rejects Offer) The corrected release reads:
ROBERT COATES OFFERS BORLAND SOFTWARE $150 MILLION FOR LEGACY PRODUCTS -- BORLAND REJECTS OFFER
Robert Coates, a former director and major shareholder in Borland Software Corporation (Nasdaq:BORL), announced today that the Borland Board of Directors has summarily rejected his proposal for a $150,000,000 all cash purchase of the company's Delphi and Deploy assets.
The Borland Board rejected the offer without any discussion with Mr. Coates of its merits, without requesting any details of the proposed transaction, and without any counter offer or effort to negotiate a more favorable transaction.
Source: Business Wire
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