Corel Corp. calls a halt to its acquisition talks after two months of negotiations. The graphic software maker, which has been in discussions with an unnamed third party reportedly interested in acquiring the company ever since a buyout attempt by majority shareholder Vector Capital failed, says that it ended the discussions unilaterally but did not to say why. “Corel’s board of directors will continue to focus on maximizing shareholder value as an independent company and will also continue to evaluate all strategic alternatives as they may arise,” the company says.
Vector Capital, which owns over two thirds of Corel’s stock, said in March it would purchase the remaining shares, but then withdrew its bid just days prior to reports of the prospective third-party sale.