Novell Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates
Poster: SySAdmin
Posted on March 2, 2010 at 8:14:01 PM
Novell Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates
WALTHAM, Mass., March 2 -- Novell, Inc. (NASDAQ: NOVL) 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. (NASDAQ:NOVL) 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.
Source: Novell, Inc.
CONTACT: Ian Bruce, Novell, Inc., +1-781-464-8034, ibruce@novell.com, or
Matthew Sherman / Jeremy Jacobs, all of Joele Frank, Wilkinson Brimmer
Katcher, +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 of
Morrow & Co. LLC, +1-203-658-9400
Web Site: http://www.novell.com/
WALTHAM, Mass., March 2 -- Novell, Inc. (NASDAQ: NOVL) 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. (NASDAQ:NOVL) 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.
Source: Novell, Inc.
CONTACT: Ian Bruce, Novell, Inc., +1-781-464-8034, ibruce@novell.com, or
Matthew Sherman / Jeremy Jacobs, all of Joele Frank, Wilkinson Brimmer
Katcher, +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 of
Morrow & Co. LLC, +1-203-658-9400
Web Site: http://www.novell.com/