Novell Inc. has a market cap of $2.09 billion; its shares were traded at around $5.96 with a P/E ratio of 25.91 and P/S ratio of 2.58. NOVL is in the portfolios of John Paulson of Paulson & Co., Columbia Wanger of Columbia Wanger Asset Management, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Bruce Kovner of Caxton Associates, Jim Simons of Renaissance Technologies LLC, Louis Moore Bacon of Moore Capital Management, LP, Jeremy Grantham of GMO LLC, George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors, Mario Gabelli of GAMCO Investors, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Chuck Royce of Royce& Associates.
Highlight of Business Operations: On November 21, 2010, we entered into an Agreement and Plan of Merger (the Merger Agreement) with Attachmate Corporation, a Washington corporation (Attachmate), and Longview Software Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of Attachmate (Merger Sub). The Merger Agreement provides that, upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will be merged with and into us, with us continuing as the surviving corporation and a wholly-owned subsidiary of Attachmate. Pursuant to the terms of the Merger Agreement, at the time the merger is effective, each issued and outstanding share of our common stock, other than treasury shares, shares held by Attachmate, Merger Sub or any other direct or indirect wholly-owned subsidiary of Attachmate or us and shares held by stockholders who perfect their appraisal rights, will be converted into the right to receive $6.10 in cash, without interest and less any applicable withholding taxes. Consummation of the merger is subject to certain conditions to closing, including, among others, (i) the approval by our stockholders; (ii) the expiration or termination of the waiting period (and any extensions thereof) applicable to the consummation of the merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act), and the approval by the German antitrust authority, the Federal Cartel Office (FCO); (iii) the absence of any law, order or other action enjoining or otherwise prohibiting consummation of the merger; (iv) the absence of a material adverse effect on us; (v) the closing of the transactions contemplated by the Patent Purchase Agreement (as defined below); (vi) the accuracy of the parties respective representations and warranties; (vii) the parties respective compliance with agreements and covenants contained in the Merger Agreement; and (viii) the availability to us and our subsidiaries of cash and cash equivalents equal to approximately $1.03 billion. We are working towards completing the merger as quickly as possible and currently expect to consummate the merger in the first calendar quarter of 2011.
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