Novell Gets $5.75 Per Share Cash Bid From Elliott Associates

Investment firm Elliott Associates this afternoon offered to acquire Novell (NOVL) for $5.75 a share in cash, or about $1 billion net of Novell’s cash position. Long considered a potential takeover candidate, due in part to a cash position of about $1 billion, Novell is a long-time player in networking software, and also owns the Suse Linux business. Elliott and its affiliated own an 8.5 percent stake in the company.

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