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Posted AT 4:18 PM EST on 18/08/08

Vector pulls Corel takeover bid

JOHN PARTRIDGE

Globe and Mail Update

U.S. private equity firm Vector Capital Corp. has dropped its latest bid to take Ottawa software developer Corel Corp. private for $11 (U.S.) a share – $5 a share less than the price at which it took the company public two years ago. Vector, based in San Francisco, already owns 69 per cent of Corel through a corporate affiliate and launched its $280-million bid for the remaining 31 per cent in late March.

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