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Novell Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates

Mar 02, 2010 (06:03 PM EST)
URL: http://www.techweb.com/show-press-release/X794025/novell-confirms-receipt-of-unsolicited-conditional-proposal-from-elliott-associates.html

WALTHAM, Mass., March 2 /PRNewswire-FirstCall/ -- 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 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.