Corel investor begins subsequent offer in bid to take company private

By Lisa Kerner

Charlotte, N.C., Nov. 30 - Vector Capital affiliate Corel Holdings, LP said a total of approximately 4,542,951 common shares, or 52% of Corel Corp.'s outstanding shares, were tendered in the $4-per-share offer that ended on Nov. 25.

Corel Holdings began a subsequent offering period for the remaining shares at the same $4-per-share offer price, according to a Vector news release.

The subsequent offering period ends at midnight ET on Friday.

All shares validly tendered will be immediately accepted for payment, Vector said.

Once the subsequent offering period is completed, Corel Holdings will take steps to acquire all the common shares not tendered and deregister Corel as a public company.

ESW Capital, LLC announced on Monday that it had tendered its 4,495,644 shares, which represent 17.4% of Corel's outstanding common shares.

Innisfree M&A Inc. is the information agent for the tender offer.

Ottawa-based Corel operates as a packaged software company. Its graphics and productivity products include CorelDRAW Graphics Suite and Corel Painter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.