Borland (BORL) Consideration Under Merger Agreement Raised from $1.15 to $1.50/Share; Termination Fee Also Increased
On June 30, 2009, Borland Software Corporation (Nasdaq: BORL) entered into a Second Amendment to Agreement and Plan of Merger by and among Bentley Merger Sub, Inc., Micro Focus International plc, Micro Focus, Inc. and the Company, dated May 5, 2009, as amended on June 17, 2009.
The Second Amendment provides that (i) the merger consideration under the merger agreement increased from $1.15 to $1.50 per share in cash and (ii) the termination fee payable in certain circumstances increased from $4 million to $5.2 million. The Merger Agreement otherwise remains in full force and effect. The Board of Directors of Borland Software approved the Second Amendment on June 30, 2009.
The Second Amendment provides that (i) the merger consideration under the merger agreement increased from $1.15 to $1.50 per share in cash and (ii) the termination fee payable in certain circumstances increased from $4 million to $5.2 million. The Merger Agreement otherwise remains in full force and effect. The Board of Directors of Borland Software approved the Second Amendment on June 30, 2009.
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