LONDON (ShareCast) - Legacy software group Micro Focus (LSE: MCRO.L - news) 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 (BORL - news) , 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.
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