Boca Research Inc, which was initially miffed but said it intended to proceed as it had planned in its letter of intent when it learned that Hayes Microcomputer Products Inc was looking for an alternative to the agreed combination with Boca, has now called the whole thing off. The decision could leave the bankrupt – but ready to emerge from Chapter 11 – Hayes in some difficulty as it tries to find a new partner. In making the announcement, the Boca Raton company indicated that Dennis Hayes’s recent efforts to seek alternatives to the merger with Boca Research, his refusal to suspend these efforts during continued negotiations with Boca Research, and the course of negotiations over the past several days caused Boca Research to conclude that Hayes is not committed to the merger.
