* MICROSOFT BAILS OUT COREL WITH $135 MILLION STOCK PURCHASE

[Rod Roark]

But convertible (to voting shares), I understand.

See slashdot for much discussion of this story.

-- Rod
   http://www.sunsetsystems.com/

On Tue, 03 Oct 2000, Art Wagner wrote:
> If I am not badly mistaken other reports on this bailout mentioned
> that the shares M$ acquired are NON-VOTING.
> 
> rleonard wrote:
> > 
> > * MICROSOFT BAILS OUT COREL WITH $135 MILLION STOCK PURCHASE
> > In a move reminiscent of its 1997 $150 million Apple bailout, Microsoft
> > surprised the high-tech world late yesterday by announcing a similar
> > deal with besieged Corel, which has been floundering lately on the edge
> > of bankruptcy. Under terms of a new strategic alliance between the two
> > companies, Microsoft has purchased $135 million worth of Corel stock.
> > In return, Corel will work with Microsoft to develop the .NET
> > initiative and participate in trade shows, product launches, and other
> > events. Corel recently moved into Microsoft territory by offering a
> > rival OS based on Linux, and the company also ported its WordPerfect
> > Office suite and CorelDRAW products to Linux. But an attempt earlier in
> > the year to become a "Linux powerhouse" failed, and Corel has fallen on
> > hard times. Corel maintains, however, that the Microsoft alliance won't
> > affect its Linux products