AboutWelcome to Free Software Daily (FSD). FSD is a hub for news and articles by and for the free and open source community. FSD is a community driven site where members of the community submit and vote for the stories that they think are important and interesting to them. Click the "About" link to read more...
According to a Wall Street Journal report, this week Novell, which was put up for up for sale after an unsuccessful bid from a hedge fund, is taking bids from up to 20 companies
New York-based hedge fund Elliott Associates L.P. in a letter to Novell’s board of directors dated March 2 offered to purchase the infrastructure software company for a cash price of $5.75 per share, or $1 billion net of the cash on the company’s books.
Novell expects to evaluate initial takeover bids for the company this week, according to The Wall Street Journal. As many as 20 companies have expressed interest in Novell, the Journal said. Of course, The VAR guy has his own opinion of the situation. Here it is.
Novell's CEO on Saturday notified customers that the open source software company has rejected hedge fund Elliott Associates' roughly $2 billion bid to take it private.
Once again, the buzz has grown surrounding rumors that Novell may soon be snapped up in a buyout. As many as 20 companies may have registered bids for the company, according to the Wall Street Journal. Matt Asay notes that an auction of the company could become a patent troll bonanza, and I have to agree. Let's remember that Novell is no spring chicken.
The hedge fund Elliott Associates said Tuesday afternoon that it had made an offer to buy Novell in a deal that valued the business software company at about $2 billion. Elliott said it would pay $5.75 a share in cash for Novell, a price that is 21 percent higher than Novell's closing stock price on Tuesday.