Micro Focus ups Borland bid a second time

1st Jul 2009 07:10

Legacy software group Micro Focus has upped its cash offer for Borland by a second time to see off a potential rival bidder.Micro Focus is now offering $1.50 cash for each outstanding share of Borland Software Corporation, which values it, on a fully diluted basis, at approximately $113m.The new offer is 50% higher than its original bid of $1 per share, which it susequently increased to $1.15 after an unnamed third party approached Borland.The terms of the revised offer have been unanimously approved by the board of directors of both Micro Focus and Borland, today's announcement said.