Shares in Rational Software Corp. (NasdaqNM:RATL - News) gained slightly on Wednesday on speculation that Microsoft Corp. (NasdaqNM:MSFT - News) would bid for the software company, less than a week after International Business Machines Corp. (NYSE:IBM - News) agreed to buy it for $2.1 billion in cash.

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Separately, rival Borland Software Corp.(NasdaqNM:BORL - News) gained 2.75 percent to $11.57 following a report on CNBC television that it could emerge as a potential acquisition target for Microsoft in the wake of IBM's offer to buy Rational.