$2B Bid for Novell

3/3/10

Novell has received an unsolicited offer from one of its largest stockholders to acquire all of the Waltham, MA-based network software maker’s outstanding shares for $5.75 a share, the company confirmed in a press release. The bid from Elliott Associates, which owns 8.5 percent of Novell common stock, represents a 49 percent premium over Novell’s current value, the private equity firm said in a letter to the Novell board Tuesday. The $2 billion offer will go under review by the company’s board of directors.


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