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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..."

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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..."

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