Borland Gets Increased Buyout Offer
Stock quotes in this article:
BORL
Micro Focus International increased its cash offer for Borland Software (BORL Quote) to $1.15 a share.
The terms of the revised offer, which values Borland at about $88 million, have been unanimously approved by the boards of both companies. In a press release Thursday, the companies said a separate bidder looking to acquire Borland has withdrawn from the process. Shares of Borland closed Wednesday at $1.14 a share. In May, it was announced that Borland was being acquired by Micro Focus for $1 a share, valuing Borland at the time at $75 million. Micro Focus, a U.K. company, is a developer of enterprise application modernization and management software, while Borland makes open application, lifecycle management software.- Loading Comments...
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