OzHub, the Macquarie Telecom-led cloud computing alliance, has come down firmly on the side of Optus over the copyright controversy surrounding Optus TV Now, warning that any moves to change the law "risk branding Australia a global luddite state."
The company said on Saturday that its board had considered the proposal in the light of a review by its independent financial and legal advisers and concluded that it was inadequate and undervalued Novell's franchise and growth prospects.
Elliott Associates and a related firm, Elliott International, are the third largest owners of Novell stock, holding about eight percent.
Elliott's offer, of a total of $US2 billion in cash, represented a 37 percent premium on the share price of January 4 and a 20 percent premium on the price of March 1. It was made shortly after Novell announced its results for the first quarter, indicating that its Linux business was at a break-even point.
Novell also announced that its board had authorised "a thorough review of various alternatives to enhance stockholder value."
It said, "these alternatives include, but are not limited to, a return of capital to stockholders through a stock repurchase or cash dividend, strategic partnerships and alliances, joint ventures, a recapitalisation and a sale of the company."
Novell signed a patent-licensing deal with Microsoft in 2006, in a bid to turn around its fortunes and return to the days when it was doing well. But the partnership has so far failed to bring the company out of trouble.
David Bass
| Diversified industrial manufacturer Eaton Corporation has today launched a new set of enclosure power distribution units, ePDUs, that prov…
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