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Technology Stocks : BORL: Time to BUY! -- Ignore unavailable to you. Want to Upgrade?

To: tony di fatta who wrote (9299)3/4/1998 9:56:00 PM
From: David Miller  Respond to of 10836
 
RE:borland buyout of open

From memory, the original offer (May 1996) called for 0.51 (Borland shares for one Open). There was a downside "collar" on the transaction whereby if Borland shares fell below $12.75, the bid price would be adjusted pro rata. This proved to be unworkable, the ratio was revised to 0.66 by mutual agreement, and this was the position when the transaction was finalised on November 18th 1996.

david


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