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The Register: Novell and its $600m War Chest

Jul 20, 2004, 17:00 (1 Talkback[s])

"Novell's latest debt offering was oversubscribed, and it was able to rake in a hefty $600m. But what will Novell do with all of this money? There are some intriguing options that Novell has as it takes Linux deeper into the data center and out onto desktops...

"Novell said in the initial offering that it planned to use $125m of the debt offering--which was technically a 0.5 per cent convertible senior debenture due in 2024--to acquire 15.2 million shares of its common stock on Wall Street. Buying up stock is useful for a lot of reasons: it gives Novell incentives to give employees and it props up net earnings per share figures..."

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