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Technology Stocks : INPR - Inprise to Borland (BORL)
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To: LPG who wrote (4347)2/7/2000 9:26:00 PM
From: Lewis Edinburg   of 5102
 
This is a terrible deal for INPR shareholders or am I missing something ?

My thoughts too. I've felt like I was hit broad-side with a shovel with this announcement. When I first checked on how INPR was doing today (around 7:00am PST), I noticed that the volume seemed kind of high so I checked to see if there was news. If the purchase price had been the $2.2 billion that the early news accounts indicated then I would have felt disappointed but not betrayed.

At this price, it seems more like what we might have expected from the previous management. Fuller has done a great job in the short time he's been with Inprise but his success has led me to set my sights much higher than I would have hoped in my wildest dreams a year ago. I expected INPR to reach $20-$40 this year on its own. Having a supposedly friendly buyout at a pittance does not make any sense. I'd rather see a hostile takeover by someone like Sun than this firesale to a company that seems to be no better than the Inprise of a year or two ago.

What is in this for Inprise as a company and for its shareholders? If anything, the other tools makers should chip in $50 per share to us for us arranging to kill off Inprise's products as they are relegated to the black hole of other products now owned by Corel.

I see that Fuller got the Chairman position out of this. I'd like to know what sweetheart deals the rest of the Board (including Coates) got that they approved this.

Unless they can present us shareholders with a really compelling reason we should approve the sale, I am going to vote against this.... that is if I haven't dumped my shares (which I've owned for three years) by then.
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