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.
Issue 270/2023
Buy this issue as a PDF
Subscribe to our Linux Newsletters
Find Linux and Open Source Jobs
Subscribe to our ADMIN Newsletters
Find SysAdmin Jobs
News
-
OpenMandriva Lx 23.03 Rolling Release is Now Available
OpenMandriva "ROME" is the latest point update for the rolling release Linux distribution and offers the latest updates for a number of important applications and tools.
-
CarbonOS: A New Linux Distro with a Focus on User Experience
CarbonOS is a brand new, built-from-scratch Linux distribution that uses the Gnome desktop and has a special feature that makes it appealing to all types of users.
-
Kubuntu Focus Announces XE Gen 2 Linux Laptop
Another Kubuntu-based laptop has arrived to be your next ultra-portable powerhouse with a Linux heart.
-
MNT Seeks Financial Backing for New Seven-Inch Linux Laptop
MNT Pocket Reform is a tiny laptop that is modular, upgradable, recyclable, reusable, and ships with Debian Linux.
-
Ubuntu Flatpak Remix Adds Flatpak Support Preinstalled
If you're looking for a version of Ubuntu that includes Flatpak support out of the box, there's one clear option.
-
Gnome 44 Release Candidate Now Available
The Gnome 44 release candidate has officially arrived and adds a few changes into the mix.
-
Flathub Vying to Become the Standard Linux App Store
If the Flathub team has any say in the matter, their product will become the default tool for installing Linux apps in 2023.
-
Debian 12 to Ship with KDE Plasma 5.27
The Debian development team has shifted to the latest version of KDE for their testing branch.
-
Planet Computers Launches ARM-based Linux Desktop PCs
The firm that originally released a line of mobile keyboards has taken a different direction and has developed a new line of out-of-the-box mini Linux desktop computers.
-
Ubuntu No Longer Shipping with Flatpak
In a move that probably won’t come as a shock to many, Ubuntu and all of its official spins will no longer ship with Flatpak installed.