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What Happened to the SCO/York Deal?

Nov 26, 2007, 00:00 (2 Talkback[s])
(Other stories by Steven J. Vaughan-Nichols)

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"Earlier this week, it seemed that the only thing between York Capital buying SCO was the U.S. Bankruptcy Court in Delaware turning the proposed sale down. Then, in a surprise move on Nov. 20 SCO withdrew its emergency motion asking the court to allow it to sell its assets to York. The question of the day: why?

"The deal that York, a New York-based private investment firm, was offering would have paid up to $36 million for SCO's properties. Only $10 million of the deal would have been in cash. SCO would also have gotten a $10 million line of credit to use in its Novell and IBM court battles. If SCO/York actually won any money from its suits, SCO would only get 20 percent of any court-ordered awards up to $10 million..."

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