Novell Board Rejects Elliott Associates' Unsolicited Bid

Date : 03/20/2010 @ 4:56PM
Source : Dow Jones News
Stock : Novell, Inc. (MM) (NOVL)
Quote : 6.099  0.0 (0.00%) @ 2:05AM

Novell Board Rejects Elliott Associates' Unsolicited Bid

Novell, Inc. (MM) (NASDAQ:NOVL)
Historical Stock Chart

5 Years : From Oct 2012 to Oct 2017

Click Here for more Novell, Inc. (MM) Charts.

Software company Novell Inc. (NOVL) said Saturday its board has rejected an unsolicited bid from hedge fund Elliott Associates LP to acquire the company for $5.75 per share in cash, calling it "inadequate."

Novell in a press release said the bid "undervalues the Company's franchise and growth prospects."

Elliott Associates, which holds an 8.5% stake in Novell, earlier this month offered to buy the rest of the company for about $1.8 billion.

Novell also said Saturday its board has authorized a "thorough review of various alternatives" to enhance stockholder value. Among these alternatives, it said, are strategic partnerships and alliances, joint ventures, a stock repurchase or cash dividend, a recapitalization and a sale of the company.

 
 

Latest NOVL Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.