Novell Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates
March 02 2010 - 7:54PM
PR Newswire (US)
WALTHAM, Mass., March 2 /PRNewswire-FirstCall/ -- Novell, Inc.
today confirmed that it has received an unsolicited, conditional
proposal from Elliott Associates, L.P. to acquire the Company for
$5.75 per share in cash. Novell anticipates that its Board of
Directors will review Elliott's proposal in consultation with its
financial and legal advisors. J.P. Morgan is serving as financial
advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting
as legal counsel to Novell. About Novell Novell, Inc. delivers an
interoperable Linux* platform and a portfolio of integrated IT
management software designed to help customers around the world
reduce cost, complexity and risk. With our infrastructure software
and ecosystem of partnerships, Novell harmoniously integrates mixed
IT environments, allowing people and technology to work as one. For
more information, visit http://www.novell.com/. Novell and the
Novell logo are registered trademarks and SLES is a trademark of
Novell, Inc. in the United States and other countries. *All third
party marks are the property of their respective owners.
DATASOURCE: Novell, Inc. CONTACT: Ian Bruce, Novell, Inc.,
+1-781-464-8034, ibruce@novell.com, orMatthew Sherman / Jeremy
Jacobs, all of Joele Frank, Wilkinson BrimmerKatcher,
+1-212-355-4449; or Investor Relations, Rob Kain of Novell,
Inc.,1-800-317-3195, rkain@novell.com, or Thomas Ball / John
Ferguson, both ofMorrow & Co. LLC, +1-203-658-9400 Web Site:
http://www.novell.com/
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