“Hedge fund Elliot Associates has made a bid to acquire software vendor Novell. In a public letter to the company’s board of directors, the hedge fund offered $5.75 per share (a 49 percent premium), placing Novell’s value at $2 billion dollars. Elliot Associates is already one of the largest institutional shareholders of Novell, with roughly 8.5 percent of the company’s stock.”
Citing Underperformance, Hedge Fund Offers $2B for Novell
Submitted by SReilly 2010-03-03 Novell and Ximian 1 Comment
Its never a good sign when the hedge funds come a knockin. 90% of the time they are just in it for short term gain at the cost of long term failure and bankruptcy but the brokers got theirs so everyone else can go screw themselves. And I don’t really see the hedge fund overlords really understanding the open source way of doing business. This would be bad for Novell and bad for open source.