Corel Jumps 92% After Selling 25%Stake to Microsoft
Canadian software maker Corel (CORL) was up 91.5% early in the preopen Island session after announcing that Microsoft (MSFT) bought 24 million of its convertible preferred shares at $5.63, giving Microsoft a 24.6% nonvoting stake.Microsoft said it viewed the purchase as an investment and is not interested in acquiring Corel. Microsoft was up 0.2%. The companies said they would work together on testing, development and marketing Microsoft's .Net platform.
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