26th Jun 2009 07:00
26 June 2009
Update on Proposed Acquisition of Borland
In accordance with the terms of the merger agreement entered into by both Borland Software Corporation ("Borland") and Micro Focus International plc ("Micro Focus") on 5 May 2009, as amended, Micro Focus has been notified by Borland that it has received a preliminary non-binding indication of interest from another party.
Micro Focus continues to believe that its fully funded offer, which has been unanimously recommended by the Board of Directors of both Micro Focus and Borland, is based on strong strategic rationale and is therefore in the best interests of both companies, their employees, customers and shareholders.
The Board of Micro Focus will continue to monitor the situation closely and, in any event, will maintain its strict financial acquisition criteria. Micro Focus posted its Circular to shareholders on 24 June 2009 ahead of a general meeting of shareholders on 17 July 2009. Borland filed its Definitive Proxy Statement with the SEC on 19 June 2009 and will hold its shareholder meeting on 22 July 2009.
Enquiries:
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Micro Focus |
Tel: +44 (0)1635 32646 |
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Stephen Kelly, Chief Executive |
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Nick Bray, Chief Financial Officer |
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Tim Brill, Head of Corporate Communications & IR |
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Financial Dynamics |
Tel: +44 (0)20 7831 3113 |
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Charles Palmer /Haya Chelhot/ Nicola Biles |
Notes to editors:
About Micro Focus
Micro Focus, a member of the FTSE 250, provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization and Management software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. For additional information please visit www.microfocus.com
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