Privatization bid dropped
Vector Capital’s plans to privatize Corel Corp. come to a halt as the private equity firm withdraws its offer to buy the shares of the software maker not owned by Vector affiliate Corel Holdings L.P. In March CHLP, which currently owns 69% of Corel’s stock, announced a proposal to acquire the remaining outstanding shares for $11 a piece in cash, a price analysts said was too low. Neither Corel nor Vector is commenting on the pullout.