Are they selling or not? The company has decided not to sell itself and is instead raising $1 billion and replacing CEO Thorsten Heins with John S. Chen. Chen was the previous CEO of SAP company Sybase.

The troubled company had until November 4 to agree to an acquisition by Fairfax Financial Holdings for $4.7 billion but is now seeking to raise $1 billion by selling convertible notes to a group of investors including Fairfax. Read their press release here. The transaction is expected to be completed within the next two weeks.

Chen served as CEO of Sybase since 1998. SAP acquired Sybase in 2010.