Twenty interested parties likely to bid for US software maker Novell
(M&A Navigator Via Acquire Media NewsEdge) Twenty potential buyers are queuing up for US enterprise software developer Novell (NASDAQ:NOVL), which invited bidders to present offers this week, the Wall Street Journal said Wednesday citing people with knowledge of the matter.
The majority of the expected bidders are private equity firms, the paper reported.
In March, the software maker rejected a USD2bn (EUR1.6bn) takeover bid from investment fund Elliott Associates, saying the USD5.75 per share offer is inadequate.
The Wall Street Journal added that preliminary bids are expected to exceed the offer of Elliott, which holds an 8.5% stake in Novell.
Country: USA; Sector: Computer Software Target: Novell Inc Type: LBO; Corporate acquisition Status: Auction Comment: Report says up to 20 bidders interested in Novell ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS
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