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
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Novell Rejects Elliott’s $2 Billion Bid
Novell rejected the offer the day before its annual user conference, Brainshare, opens

Novell broke its 18-day silence late Saturday morning and rejected the unsolicited $5.75-a-share offer to take the company private that Elliott Associates plunked on the table March 2.

Novell wants more money.

Bearing in mind that Novell currently has close to a billion dollars in the bank that Elliott would theoretically get, Novell calls the offer “inadequate” and claims it “undervalues the company’s franchise and growth prospects.”

Those “growth prospects,” however, are dubious and considering that Novell’s stock hasn’t been valued at $5.75 since the summer of 2008 – well, at least not before it was bid up over six bucks in the last two weeks in anticipation of a sweeter offer – the company now has to do something to placate stockholders.

So it said the board “has authorized a thorough review of various alternatives to enhance stockholder value,” including “a return of capital to stockholders through a stock repurchase or cash dividend, strategic partnerships and alliances, joint ventures, a recapitalization and a sale of the company.”

There has been speculation that IBM or SAP or somebody could pick it up or at least parts of it although it’s not clear why they would.

Novell’s not guaranteeing that any agreement or transaction will transpire and says it’s not going to talk about any of the alternatives “unless and until the board has approved a specific course of action.”

Elliott, which is already supposed to be Novell’s biggest stockholder with 8.5% of the shares, has yet to be heard from.

The Blue Harbour Group, a private equity investment group that reportedly owns 4% of Novell, issued a statement backing the board’s decision.

“We agree with Novell’s management and board of directors that the company’s value significantly exceeds Elliott’s proposal,” it said. “Blue Harbour has been in active and constructive discussions with Novell’s management in recent months on various alternatives to create and unlock value and we support the company’s decision today to pursue a formal review process with the assistance of its advisors.”

It apparently sizes up Novell the way Elliott does. When Elliott made its offer, it said that Novell “has meaningfully underperformed all relevant indices and peers.”

After running up to $6.15 because of Elliott’s bid, Novell’s stock closed at $5.64 Friday and could take a hit Monday.

Novell rejected the offer the day before its annual user conference, Brainshare, opens and perhaps a week before a Utah federal jury decides whether it owns Unix or whether it owes SCO damages, a multimillion-dollar verdict that could impact its cash reserves and the value of any deal.

Novell has been struggling to reinvent itself for years and ironically without Microsoft probably wouldn’t be much of a Linux representative. It’s been suffering six straight quarters of declining sales and isn’t predicting much of a change going forward.

It’s being advised by JP Morgan.

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 Cloud Developer Stories
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to compani...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-techn...
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...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies...
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