Corel odyssey leaves investors scratching their heads part 3
I see that Corel (CRE:TSX) jumped 15% yesterday as a result of the Company’s proactive attempt to clean up the media-induced confusion the followed the Reuters coverage as well as our friends at the Globe and Mail (see prior post “Corel odyssey leaves investors scratching their heads part 2“) following the withdrawal of Vector’s $11/share going private proposal on Monday (see prior post “Corel odyssey leaves investors scratching their heads“).
How unhappy will the shareholders be who sold their stake on Monday and Tuesday as a result of the mangled press coverage of Vector’s move? Grumpy. The subsequent press release from Corel was a great idea, even if it came too late to save everyone who might have prematurely headed for the exits.