ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NOVL Stock Price » NOVL Stock News

Novell Share News

 Novell (mm) Stock Price
NOVL Stock Price
 Novell (mm) Stock Chart
NOVL Stock Chart
 Novell (mm) Stock News
NOVL Stock News
 Novell (mm) Company Information
NOVL Company Information
 Novell (mm) Stock Trades
NOVL Stock Trades

Novell Board Rejects Elliott Associates' Unsolicited Bid

DOW JONES NEWSWIRES 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.

Stock News for Novell (NOVL)
No Recent News Available

Novell and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations