NOVELL INC NOVL
W
February 26, 2010 - 6:00pm EST by
member
| 2010 | 2011 | ||||||
| Price: | 4.70 | EPS | $0.34 | $0.29 | |||
| Shares Out. (in M): | 356 | P/E | 13.8x | 16.2x | |||
| Market Cap (in $M): | 1,672 | P/FCF | 14.5x | 14.5x | |||
| Net Debt (in $M): | -993 | EBIT | 139 | 133 | |||
| TEV (in $M): | 679 | TEV/EBIT | 4.9x | 5.1x | |||
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Description
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| # | AUTHOR DATE SUBJECT |
|---|---|
| 48 | |
Nevermind - I think this is just a frivolous lawsuit that is regularly filed in all takeouts.
| |
| 47 | |
thoughts?
Novell Sued by Investor Over $2.2 Billion Attachmate Buyout
By Phil Milford Nov. 26 (Bloomberg) -- Novell Inc., the computer networksoftware maker being bought by Attachmate Corp. for $2.2billion, was sued in Delaware Chancery Court by | |
| 46 | |
There was an article back in September that said that Novell's patents were complicating its sale.
http://gigaom.com/2010/09/16/novells-patents-are-complicating-its-sale/
The FT article on the deal today said MSFT was worried Novell's patents would fall into the hands of a... login to read the rest | |
| 44 | |
Yeah at first I thought we might see a press release from Elliott balking at the $6.10 price, but if you read the press release from Attachmate it says that Elliott will become a shareholder... login to read the rest | |
| 41 | |
Well mojoris you were right about this one and smart to sell at $6.30. I am disappointed and surprised that they could only get $6.10 for the whole thing, especially considering that as part of... login to read the rest | |
| 40 | |
I missed these posts last week, but it has indeed been a frustrating wait for NOVL and my initial dreams of $8-$9 look much less likely. Frustrating to see the NY Post report on NOVL... login to read the rest | |
| 35 | |
I've been thinking about Elliott's standstill I don't think it changes much except for their ability to go public with a different offer or the threat to mount a proxy fight. I don't think they... login to read the rest | |
| 29 | |
Well, just when I was started to get worried about the lack of news this shows up in the NY Post this morning. Hopefully this means a deal will be announced in the next three... login to read the rest | |
| 28 | |
Well, if this ends up going through for $5.75 I will be pretty disappointed, but it would certainly be better than management announcing that they had been through all the options and decided they were... login to read the rest | |
| 26 | |
Unfortuantely, the filing by Elliott probably means a near-term sale is less likely, though this is not definite. The pessmistic explanation is that the auction process failed and the company is engaging Elliott to see... login to read the rest | |
| 24 | |
Today SNWL, a different slow-growing but software maintenance revenue heavy tech company, announced it was being taken privtate by Thoma Bravo and the Ontario Teacher's Pension Plan. SNWL has primarily provided SMB internet security hardware,... login to read the rest | |
| 23 | |
The software M&A market continues to heat up. SY just spiked on news that SAP is close to buying it for around $55 per share, from my quick back-of-the-envelope calculation on EV/ annual maintenance revenue... login to read the rest | |
| 22 | |
Added more in 5.20s. A gift indeed.
Stock up today on this article in DealReporter:
11-May-10
Novell first round bids due next week as dozens sign NDAs, sources say
Story Novell (NASDAQ: NOVL) is receiving a broad level of... login to read the rest | |
| 21 | |
My guess is that merger arb or specia sitautions funds are raising liquidity/reducing leverage amid all the volatility, given that there is a $5.75 bid out there and the company's bankers are currently shopping for... login to read the rest | |
| 20 | |
Mojoris, I have not run an LBO analysis at various prices per se- this is not a standard situation and intuitively I am pretty sure you could produce a wide variety of prices depending on... login to read the rest | |
| 17 | |
First of all, I believe that in the time between Elliott's offer and the board's rejection of it along with the announcement it had hired JP Morgan to evaluate alternatives, they probably asked JP Morgan... login to read the rest | |
| 16 | |
Thanks for the thought. I also wonder what your view is on Elliott Associates and the likelihood that they might walk away. I have seen several instances, namely Endologix and Epicor, where Elliott submitted an... login to read the rest | |
| 15 | |
hb190, I think the market is skeptical on two related fronts: (1) that NOVL's complexity and multiple product lines will put off strategic buyers or cause any bid to be at a discount to a... login to read the rest | |
| 14 | |
great call so far.
considering that the stock is trading at Elliott's bid, do you think that the market is mispricing the probability of a strategic showing up, or do you think that the company shopping | |
| 13 | |
Reuters released an interesting discussion of the potential deal after hours.
http://www.reuters.com/article/idCNSGE62N0BY20100325?rpc=44
The key quote:
--------------------------------
LINUX IS THE KEY
The key to the whole situation might be Novell's Linux business, said a person familiar with the company. He believes... login to read the rest | |
| 12 | |
1. If you are looking at the past two years, CFFO was lower than adjusted EBIT because they were recognizing deferred revenue from a large prepayment made by Microsoft as part of their settlement. CFFO... login to read the rest | |
| 11 | |
great writeup
1 why is CFO so much lower than adjusted EBIT the last few years?
2 any rough estimate on the tax hit on repatriating the ~400mm in offshore cash?
3 do you have any opinion on... login to read the rest | |
| 10 | |
Yesterday NOVL put out a press release saying that Elliott's offer has been rejected as it meaningfully undervalued the company. However, the release also said they had retained JP Morgan and Skadden Arps to review... login to read the rest | |
| 9 | |
For any of you still following the story, I'd point you to the Macquarie initiation report from this week. It contains a more full description of the products and attempts to calculate both the "financial"... login to read the rest | |
| 8 | |
Specialk, I also must tip my hat to you on this one. I guess the "waiting for Godot" risk with this stock was truly more than priced in. | |
| 7 | |
Yeah that part about Eric Schmidt being lost to obscurity was my attempt at a joke. Funny how he is now hailed as a strategic genius but he was also at the helm during a... login to read the rest | |
| 6 | |
Well Eric Schmidt wasn't really lost to obscurity. He ended up CEO and Chairman of Google and I'm sure he's quite happy above the move. Not sure if you were being sarcastic with your comment.... login to read the rest | |
| 5 | |
Great insight that the story had gotten much more compelling with Elliott as a catalyst. | |
| 4 | |
If only all my ideas worked this well or this quickly. You see my valuation above, I think it is worth well more than that even on the low end. I have seen activists use... login to read the rest | |
| 3 | |
Thoughts on the $5.75 price? | |