Microsoft Matchmakes, SCO Buys Back Stock
Mar 11, 2004, 14:00 (16 Talkback[s])
(Other stories by Jim Kerstetter)
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BusinessWeek: SCO's Suit: A Match Made in Redmond?
[ Thanks to David for this link. ]
"For months, rumors have swirled around the Web alleging that
Microsoft helped finance a small Utah software company's suit
against IBM and two corporations that use Linux software. BW Online
has learned that Microsoft did not put up the money, but did play
matchmaker for SCO Group and BayStar Capital, a San Francisco hedge
fund which made a $50 million investment in SCO last October.
"Lawrence Goldfarb, managing partner of BayStar, says that
senior executives at the software giant had telephoned him about
two months before the investment. Would he be interested in
investing in SCO, they asked? Goldfarb wouldn't identify the
executives, but says neither Chairman William Gates nor CEO Steve
Ballmer were among them. He says Microsoft didn't put any money
into BayStar or the SCO investment. A Microsoft spokesman says that
the company has no 'direct or indirect' financial relations with
BayStar, but declined to comment when asked whether execs called
BayStar to suggest investing in SCO..."
Yahoo!: The SCO Group Announces Stock Buyback Program
"The SCO Group, Inc... today announced that the company's board
of directors has authorized management, in its discretion, to
purchase up to 1.5 million shares of SCO's common stock over the
next 24 months. The repurchase program is effective immediately.
SCO has approximately 14.4 million shares of common stock issued
and outstanding. Any repurchased shares will be held as treasury
stock and will be available for general corporate purposes.
"The repurchase program will allow SCO to repurchase its shares
from time to time in accordance with the requirements of the
Securities and Exchange Commission on the open market, in block
trades and in privately negotiated transactions, depending on
market conditions and other factors..."