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.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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