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Novell Says No Current Plans To Sell The Company

Software and services company Novell Inc. (NOVL) Friday said in a filing with the Securities and Exchange Commission that it currently has no plans to sell the company. Novel also said that it is continuing to operate in the best interest of its shareholders.

The Waltham, Massachusetts-based maker of Linux software made the statement in response to inquiries and recent published reports that hinted the possibility of a sale of some parts or the entire company.

In a research note published on Friday, J.P. Morgan analyst John DiFucci said that Novell's Chief Financial Officer Dana Russell "entertained the possibility of breaking out some parts or of selling the entire company in order to maximize shareholder value given the current depressed valuation levels." The company may be signaling that it is willing to be acquired, DiFucci noted.

DiFucci also maintained an Overweight rating and $6 price target on the company's stock.

NOVL closed Friday's trading at $4.68, up $0.43, on a volume of 15.69 million shares.

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