How to change the border color (or remove the border) of a PropertyGrid control?

Having a standard WinForms 2.0 PropertyGrid control I'm looking for a way to either change the border color of the control or remove the border altogether.

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I'm aware of the LineColor property which unfortunately only changes the inner borders between the cells.

Additionally, I used ILSpy to take a look at the source code of the PropertyGrid control and still found nothing meaningful to me.

My question is:

How to remove the outer border of a PropertyGrid control or change the color of the outer border?

Update 2012-05-04 - Solution (aka "hack"):

Based on Jamie's answer I assembled a working solution (which you can download from here):

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The idea is to place the property grid inside a panel and let the panel clip the control.

With this approach, I did place the clipping panel into another panel that has a Padding of "1" (or whatever you want the borders to be) and gave this panel a BackColor that serves as the border color (green in my example).

Set the Anchor of the property grid to "Left, Right, Top, Bottom", set the Dock of the clipping panel to "Full".

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This works well for my requirements. I would see this as kind of a hack since it consumes the resources of two panels which I hoped I could save.

Solution

this is another alternative, as it seems that my first answer is not suitable for this particular control. This is a dirty trick but should work:

Put a Panel control in your window or dialog, let say with size 100H x 300V. Put the propertygrid inside the panel with position -1,-1 and size 102,302.