Elliot Associates' worrisome Novell plans
Mar 04, 2010, 16:03 (9 Talkback[s])
(Other stories by Steven J. Vaughan-Nichols)
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"Elliot Associates is best known as a 'vulture fund.'
They don't make investments to turn companies around. They make
investments to crush the cash out of them and then leave the picked
over bones for someone else to pick up.
"In Novell's case, they won't have to look far for the money.
Novell has been cash rich for years. Even now, after some mediocre
quarters, the company still has $991-million in cash and
equivalents (PDF Link). These funds are just sitting there ripe for
the picking by a group like Elliot Associates."