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Technology Stocks : INPR - Inprise to Borland (BORL) -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (4447)	2/10/2000 9:39:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 5102

David: "The problem here is I'm not sure who else there is to be doing the bidding..." I agree. And, in any case, what would be the price? Fuller has already said INPR is worth $15. Today, the market tells us it's worth $12. A "new" bidder is certainly not going to give too much more of a premium.

To: i-node who wrote (4447)	2/10/2000 10:29:00 PM
From: smallaxe	Respond to of 5102

The 8K is on www.freeedgar.com and contains the nitty gritty details of the merger agreement. The merger is subject to approval by shareholders of both companies. Either party may also terminate if they receive a superior offer. However, they must pay a breakup fee in that event. The fee if Inprise breaks the deal because of a better offer is $29.5 million. Since that's only 40 or 50 cents a share, it's not a huge disincentive. The agreement states though, that neither party can shop for a better offer, but they can accept valid unsolicited offers. There is also a options arrangement connected with the breakup fee that makes a buyout by another party a little more complicated, but the intricacies of that are beyond my knowledge of this stuff. If the shareholders vote it down, the breakup fees don't apply.