Novell snubs hedge fund's $1bn takeover bid

Posted by Scott_Ruecker on Mar 22, 2010 11:07 PM EDT
The Register; By Kelly Fiveash
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Novell has spurned an unsolicited $1bn cash takeover bid from Elliot Associates. It said on Saturday that it had considered the company's offer to acquire Novell for $5.75 per share in cash, but concluded such a deal was "inadequate" and "undervalued" Novell's "franchise and growth prospects".

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