Corel Corp. (CREL, CRE.TO) said that it filed a Solicitation/Recommendation Statement on Schedule 14D-9 announcing that the directors mandated by its Board of Directors to act as the Board have unanimously determined to recommend that shareholders tender their shares of the Company's common stock, no par value per share pursuant to the tender offer commenced on October 28, 2009 by Corel Holdings, L.P. Or together with its affiliates, "Vector".
Under the terms of its tender offer, Vector is seeking to acquire, subject to certain conditions, all of the outstanding Shares not owned by it for US$4.00 per share in cash. Vector owns approximately 67% of the Company's outstanding Shares on a fully-diluted basis.
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