| Shareholders Okay Attachmate's Novell Takeover |
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| Written by Ricardo Sousa |
| Tuesday, 22 February 2011 06:39 |
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Shareholders Okay Attachmate's Novell Takeover Novell's days as a standalone company could be dwindling, with the company's shareholders voting to approve the $2.2 billion sale of the firm to Attachmate. When Novell went public with word that it had agreed to sell to Attachmate, some shareholders banded together to protest the transaction, saying the $2.2 billion valuation wasn't enough. But whatever concerns surfaced upon announcement of the deal have either subsided or were only the voice of a slim minority, as Novell shareholder have voted overwhelmingly to approve the sale. In a special meeting held this week, 99 percent of voters endorsed the deal. The total vote count represented 66 percent of Novell's outstanding shares. In the meantime, Novell still needs to secure regulatory approvals, and continues to press ahead with its business agenda. "We're still operating as an independent company until the deal closes," said Novell spokesman Ian Bruce. |