Thursday, 23 July 2009

Borland accepts Micro Focus bid

(By Richard Holway 9.00am 23rd July 09) Just to close the loop on the Micro Focus bid for Borland (See our Monday post here or, if you are a subscriber, read our views on the acquisition in the archive), Borland shareholders have approved the increased $1.50 offer made on 1st July. So that just leaves Micro Focus shareholders to approve tomorrow - ie a done deal.

Micro Focus shares are up 14% since Monday when the legal action was settled. Indeed, Micro Focus are up 56% in the last year (ie since 23rd July 08) making them about the best performing share in the sector in the period. Lest I get into trouble, I declare that I am a Micro Focus shareholder - indeed rather pleased to be so as it is the best performing share (by far) in my portfolio in the last 18 months.

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