SCO Gets $16M Offer For Its Unix Business
SCO has gotten a $16 million bid from York Capital for its Unix business. Coupled with the $10 million line of credit York is ready to provide, it's money enough to keep SCO's litigation against Novell and IBM going and to underwrite its budding mobile interests, the company says. SCO's lawyers will be filing papers related to the bid this afternoon with the bankruptcy court in Delaware.
That's where SCO landed in attempt to escape what it was sure would be its Armageddon in the Utah district court hearing the SCO v Novell scandal-of-title case.
It will be up to the bankruptcy judge to decide whether to accept the bid or not and if he does, it will then become what they call a "stalking horse bid" meant to flush any superior offers out of the high grass in the next few weeks.