While the process initially attracted a number of parties, we understand that there are only three left at the table: a private equity-backed company, a UK-based PE firm and a joint bid between a publicly traded tech company and a buyout shop. It’s not clear that any of the three will actually close a deal for Novell. (The process has already run past two deadlines, we gather.) Without a deal, shares of Novell would be left to trade on the company’s own merits, which probably wouldn’t do much for shareholder value.
Novell, Inc. (NASDAQ:NOVL) is trading 3.01% lower to $5.64. Novell, Inc. develops, sells and installs enterprise software that is positioned in the operating systems and infrastructure software layers of the information technology (IT) industry. The Company operates in four segments: Open Platform Solutions, Identity and Security Management, Systems and Resource Management, and Workgroup.
Shares of Novell Inc. slipped $0.23 (-3.95%) to $5.59. The stock closed at $5.82 in the last trading session and today the shares of NOVL opened at $5.73.
Novell Inc. (NOVL US) slumped 2.7 percent to $5.85. The maker of Linux operating-system software lowered its third- quarter sales forecast to a range of $197 million to $199 million. Analysts were expecting $206.5 million on average in a Bloomberg survey.
In earnings news, MBIA surged 4.5% after it registered a 45% jump in earnings in the second quarter. Software manufacturer Novell plunged 3.2% after it cut its third- quarter revenue outlook.