AttachMSFT and Novell - Need for Loan

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Article already published.

--Schestowitz 00:31, 12 January 2011 (UTC)


AttachMSFT Needs to Borrow More Money to Buy Novell

Summary: AttachMSFT [sic] does not have enough money to complete an acquisition of Novell, so it is reaching out for a loan

<a name="top">I</a>N THE coming days we shall cover the AttachMSFT acquisition of Novell and the barriers which remain. One of the lesser-discussed barriers is actually financial and according to <a href="http://www.bloomberg.com/news/2010-12-27/attachmate-seeks-1-09-billion-in-new-loans-to-fund-acquisition-of-novell.html" title="Attachmate Seeks $1.09 Billion in New Loans to Fund Acquisition of Novell">this report</a> from Bloomberg:

Attachmate Corp., the connectivity solutions provider owned by private-equity firms, is seeking $1.09 billion in loans to finance its acquisition of Novell Inc. Attachmate is seeking an $825 million first-lien term loan, a $40 million first-lien revolving line of credit and a $225 million second-lien facility, Waltham, Massachusetts-based Novell said today in a regulatory filing.

This was echoed by [<a href="http://www.emii.com/Articles/2741811/Capital-Markets/Capital-Markets-Articles/Attachmate-Seeks-1.09B-To-Buy-Novell.aspx" title="Attachmate Seeks $1.09B To Buy Novell">1</a>, <a href="http://www.islandcrisis.net/2010/12/attachmate-corp-to-acquire-novell-for-2-2-billion/" title="Attachmate Corp. to acquire Novell for $2.2 billion">2</a>, <a href="http://www.americanbanker.com/issues/175_248/banks-provide-1B-for-tech-deal-1030499-1.html" title="Banks Provide $1B for Tech Deal">3</a>] and for some <a href="http://www.istockanalyst.com/article/viewiStockNews/articleid/4756909" title="Biggest corporate deals of the year">more recently written background</a>:

6. Novell, the Waltham open-source software developer that once called Utah home, finally found a mate in Attachmate last month, following an eight-month strategic review. The Seattle firm shelled out $2.2 billion for Novell.

There is a lot more to be said about this planned takeover, but that is a subject for future posts. <a href="#top">█</a>

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