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="" 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="" title="Attachmate Seeks $1.09B To Buy Novell">1</a>, <a href="" title="Attachmate Corp. to acquire Novell for $2.2 billion">2</a>, <a href="" title="Banks Provide $1B for Tech Deal">3</a>] and for some <a href="" 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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