Mergers and Acquistions News
Categories: IT Services & Consulting
July 23rd 2009, 16:04PM
Borland Software Corporation has announced that a special meeting of its stockholders has approved the agreement and plan of merger with Micro Focus International.
Under the terms of the deal, it is expected that Micro Focus will acquire the Borland common stock for $1.50 (£0.90) per stock in cash.
Shareholders of Borland common stock voted overwhelmingly in favour of the merger proposal, with some 99 per cent approving the action.
Erik Prusch, chief executive officer of Borland, said the deal represents a positive move for his company and its stockholders.
"Today's affirmative vote marks the culmination of hard work and progress from our employees, board and management team," he commented.
"Borland looks forward to a new chapter as part of Micro Focus."
A stockholder meeting of Micro Focus scheduled for tomorrow (July 24th) is expected to finalise the acquisition.
Borland helps IT organisations to optimise their software delivery through its Open Application Lifecycle Management Solutions.
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