Elliot Eyes $1.8B Novell Stake
Hedge fund, Elliott Associates, is looking to buy software company, Novell, for $1.8 billion.
Hedge fund, Elliott Associates, is looking to
buy software company, Novell, for $1.8
billion, The Wall Street Journal reports. Elliott
already holds an 8.5% stake in Novell, which currently has a
cash balance of nearly $1 billion.
Elliot is planning to pay $5.75 a share, or a premium of 21%
over Novell’s closing price. Several large
software makers may consider bidding as they could sell their
business programs alongside Novell’s version of
Linux, adds Reuters.
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