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Apps & Software

Corel & Vector: From Strange to Stranger (CREL)

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By Douglas A. McIntyre Updated Published
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Corel LogoWe had already commented on hoe the merger offer for Corel Corp. (NASDAQ: CREL) from majority owner Vector Capital might be the strangest merger paths of this decade.  The strange can always get stranger.  Vector Capital had already raised its buyout price for the software company.

Corel’s board of directors said that it intends to complete the revised offer with financial and legal advisors and “in the near future.”

The new offer price for the shares not already owned it $4.00 per share in cash, a boost of $0.50 per share from Vector.  This was largely expected as Corel shares were already trading above the $3.50 original offer.

Vector tried to buy the rest of Corel it did not already own before in early 2008… at $11 per share.  Shares are up 9.6% at $4.00 this morning and we have seen trades as high as $4.05.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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