Novell, which has been up for sale since March 2010, will accept bids from potential buyers this week, The Wall Street Journal reports. The software company has secured expressions of interest from about 20 companies, including private equity firms.

The company expects the initial bids to be more than that offered by Elliott Associates, which already owns 8.5% of Novell, in March 2010. Elliott had offered an unsolicited bid of $5.75 per share, which valued the company at $2 billion. A private buyer may purchase Novell for about $500 million in cash and assume its debt to cover the remaining cost.

Click here for the story from The Wall Street Journal.