Novell Offered Takeover Proposal
Novell is back on the winning side. But investment firm Elliott Associates considers its stock below where it should be. Therefore, Elliott wants to take over the Linux and NetWare firm altogether.
Novell and Elliott both confirmed the takeover proposal in a press release. According to Novell, Elliott wants to pay $5.75 per share in cash. The NASDAQ promptly reacted and Novell's share price soared by as much as 37 percent in late trading March 2, rising above Elliott's per-share offer. The NY Times reported a $2 billion offer, although this bid may go even higher.
Elliott Associates now owns 8.5 percent of Novell's outstanding shares, putting it among the highest shareholders. With the takeover it wants to strengthen Novell's weak share position, having lost 85 percent of its value in the past 10 years. Elliott considers the past years of results as unsuccessful, but didn't mention Linux or open source in particular.
Novell is considering the proposal closely. Its immediate interest might be improving sales and cutting costs more so than selling the company.
Subscribe to our Linux Newsletters
Find Linux and Open Source Jobs
Subscribe to our ADMIN Newsletters
Support Our Work
Linux Magazine content is made possible with support from readers like you. Please consider contributing when you’ve found an article to be beneficial.
News
-
Plasma 6.3 Ready for Public Beta Testing
Plasma 6.3 will ship with KDE Gear 24.12.1 and KDE Frameworks 6.10, along with some new and exciting features.
-
Budgie 10.10 Scheduled for Q1 2025 with a Surprising Desktop Update
If Budgie is your desktop environment of choice, 2025 is going to be a great year for you.
-
Firefox 134 Offers Improvements for Linux Version
Fans of Linux and Firefox rejoice, as there's a new version available that includes some handy updates.
-
Serpent OS Arrives with a New Alpha Release
After months of silence, Ikey Doherty has released a new alpha for his Serpent OS.
-
HashiCorp Cofounder Unveils Ghostty, a Linux Terminal App
Ghostty is a new Linux terminal app that's fast, feature-rich, and offers a platform-native GUI while remaining cross-platform.
-
Fedora Asahi Remix 41 Available for Apple Silicon
If you have an Apple Silicon Mac and you're hoping to install Fedora, you're in luck because the latest release supports the M1 and M2 chips.
-
Systemd Fixes Bug While Facing New Challenger in GNU Shepherd
The systemd developers have fixed a really nasty bug amid the release of the new GNU Shepherd init system.
-
AlmaLinux 10.0 Beta Released
The AlmaLinux OS Foundation has announced the availability of AlmaLinux 10.0 Beta ("Purple Lion") for all supported devices with significant changes.
-
Gnome 47.2 Now Available
Gnome 47.2 is now available for general use but don't expect much in the way of newness, as this is all about improvements and bug fixes.
-
Latest Cinnamon Desktop Releases with a Bold New Look
Just in time for the holidays, the developer of the Cinnamon desktop has shipped a new release to help spice up your eggnog with new features and a new look.