Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
$2 Billion Offered for Novell
Hedge fund makes bid to take it private

Novell Session at Cloud Expo

After Wall Street closed yesterday, Elliott Associates LP, a hedge fund with $16 billion under management, made a reportedly unsolicited bid to buy Novell, the Linux operating system’s lackluster number two champion, for what looks like about $2 billion and take it private.

It’s offering $5.75 a share cash, a 20% premium over Novell’s $4.75 closing price Tuesday.

With Novell’s roughly billion dollars in the bank, the hedge fund described its bid as valuing the business at $1 billion net or “49% over the company’s current enterprise value and 77% over the company’s 90-day volume-weighted average enterprise value.”

Heck, it’s 115% more than Novell was at on January 4 when Elliott started buying its stock. It now owns about 8.5% of the company, making it one of Novell’s largest shareholders.

Elliott figures it’s being generous since the money Novell has in the bank represents 60% of its $1.66 billion market cap and much of it is stashed overseas “and may not be realized in a tax-efficient manner.”

Ironically the offer came a mere six days before Novell is supposed to go to trial over its claim to own the Unix copyrights and defend its treatment of SCO. If allowed to go to the jury, the decision could take a bite out of Novell’s saving account.

However, the stock market expects Novell to go for more than $5.75 a share. After hours, its price was bid up to $6.11 a share, a height Novell hasn’t seen in a long time.

In its letter to Novell’s board the hedge fund said that in its opinion over the past few years “the company has attempted to diversify away from its legacy division with a series of acquisitions and changes in strategic focus that have largely been unsuccessful. As a result, we believe the company’s stock has meaningfully underperformed all relevant indices and peers.”

It wants to start due diligence right away and asked for a meeting to work out a definitive agreement and sort out management’s role going forward.

It took Novell several hours to acknowledge the bid and say it would review the “conditional proposal.” It’s got JP Morgan as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as legal counsel.

Novell turned in numbers last week showing that its revenues were down 6% in the January quarter to $202.4 million although it was able to double earnings to $20.2 million, or six cents a share.

Neither figures met Wall Street expectations of seven cents on $207.6 million in revenue. And more of the same is coming. Novell is projecting sequentially flat revenues this quarter, again shy of expectations, and a non-GAAP operating margin of 12%-15%.

About Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

In order to post a comment you need to be registered and logged in.

Register | Sign-in

Reader Feedback: Page 1 of 1

Latest AJAXWorld RIA Stories
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two do...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need t...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as w...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is no...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – N...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE