Micro Focus increases cash offer for Borland

By SearchSMBAsia Editors | Jun 24, 2009

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The Board of Micro Focus International plc has increased its fully funded cash offer to US$1.15 for each outstanding Borland share. This values the acquisition of Borland’s equity, on a fully diluted basis, at approximately US$88 million.

The terms of the revised offer have been unanimously approved by the Board of  Directors of both Micro Focus and Borland.

“Both companies are fully focused on completing the transaction which we believe is based on strong strategic rationale and is therefore in the best interests of both companies, their shareholders, employees and customers,” said Stephen Kelly, Chief Executive Officer of Micro Focus International plc.