Novell Accepting Bids This Week: Report

As many as 20 companies have expressed interest in Novell, a report says.
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WALTHAM, Mass. (

TheStreet

) --

Novell

(NOVL)

, the software company, is expected to accept bids from potential acquirers this week, a report says.

This week marks the deadline for interested parties to submit bids, the

Wall Street Journal

reports, while the auction is expected to take longer. A group of finalists will likely be picked from this round of bidders, with final offers due later, people familiar with the matter said.

Novell put itself on the block in March after hedge fund Elliott Associates made an unsolicited offer of $5.75 a share, which Novell rejected.

As many as 20 companies have expressed interest in Novell, according to people familiar with the matter, the

Journal

reports. Most of the companies expected to lodge serious bids are private-equity firms. The initial offers are likely to top the bid made by Elliott, which already owns 8.5% of Novell, the

Journal

says.

Novell shares closed Wednesday at $6.03.

-- Reported by Joseph Woelfel in New York.

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