Novell to be Split in two and Sold

Wednesday Sep 15th 2010 by Developer.com Staff
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Sources are saying that Novell is about to broken apart and sold.

According to an anonymously sourced story today in the New York Post, Novell is going to be split in two and sold.

"A strategic buyer will buy the piece of the software provider that develops and delivers Linux SUSE systems, with a private-equity firm picking up much of the rest," New York Post's Josh Kosman reported. "Both deals are expected to close simultaneously and the company will be de-listed, according to one source, who noted that the talks are in a sensitive stage and could fall apart."

Novell declined to comment on the story and the unnamed sources would not divulge who the buyers are. In March, hedge fund Elliott Associates made an offer to by Novell in March for $5.75 a share, but it was rejected.

According to Kosman, "Proceeds to shareholders from these two deals would exceed that amount, a source said."

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