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Article: Corel Corporation Directors Ask Shareholders to Take No Action at This Time with Respect to the Tender Offer by Corel Holdings, L.P.
- Article from:
- China Weekly News
- Article date:
- November 10, 2009
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Corel Corporation (NASDAQ:CREL) (TSX:CRE) announced that the directors mandated by its Board of Directors to act as the Board with respect to all matters related to a possible transaction with Vector Capital, the general partner of Corel Holdings, L.P. ("CHLP"), will, in consultation with their financial and legal advisors, review and evaluate the tender offer commenced on October 28, 2009 by CHLP.
Under the terms of its tender offer, CHLP is seeking to acquire, subject to certain conditions, all of the outstanding common shares of Corel not owned by it for $(U.S.)3.50 per share in cash. CHLP owns approximately 67% of Corel's outstanding common shares on a ...