dcsimg



Novell Dismisses $2 Billion Buyout Bid

Claims $5.75 per share cash proposal by institutional investor "undervalues" the company and its growth prospects

Novell Inc. said it has dismissed a $2 billion buyout bid from investment firm Elliott Associates L.P., contending that the $5.75 per share cash proposal inadequately expressed the company's value and its growth prospects.

In rejecting the Elliott offer, however, Novell seemed to leave room either for a meatier offer from the investment firm or solicitations from other suitors.

In a statement, Novell said that its board has "authorized a thorough review of various alternatives to enhance shareholder value," including stock repurchase or cash dividend, strategic partnerships, alliances, joint ventures, or a "recapitalization and a sale of the Company." Read more...

TAGS: acquisition,Novell,buyout



Networking News Solutions




Comment and Contribute



    (Maximum characters: 1200). You have 1200 characters left.

     

     


    Networking News| Contact D.H. Kass | Back to top


    Click the Join button below to sign up to our newsletter!

    By submitting your information, you agree that itchannelplanet.com may send you ITchannelplanet offers via email, phone and text message, as well as email offers about other products and services that ITchannelplanet believes may be of interest to you. ITchannelplanet will process your information in accordance with the Quinstreet Privacy Policy.