The Novell purchase offer

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I haven't mentioned the purchase proposal from Elliot Associates before now, in large part because coverage is a lot better elsewhere. For those of you who haven't paid attention, Elliot Associates, an investment fund, offered Novell a buy-out of $5.75/share. This is not the IBM purchase everyone has been expecting for the last 14 years. Until today, people had been theorizing that their motivation is to sell off the profitable bits, and quietly phase out the non-profitable bits while pocketing Novell's large cash stash.

According to PRNews Wire, Elliot has no plans to slice-n-dice and plans to own the company. They can still do a lot, like kill products surviving more on nostalgia and a historical userbase rather than profitability, while living within their statements. Small encouragement, at least.

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this is a non starter... they made an unsolicited offer for 2x the value of the cash in the bank, which isn't a fair offer for the company. The IP along with the user base is worth much more than that.