Private Equity Firm Offers $2B In Novell Takeover Bid

Law360, New York (March 3, 2010, 4:06 PM EST) -- Private equity firm Elliott Associates LP, which has an 8.5 percent stake in Novell Inc., has made an unsolicited offer to buy the software company known for its Linux platform for about $2 billion.

Elliott sent a letter to the Novell board of directors Tuesday offering to pay $5.75 per share in cash, which, based on the number of outstanding shares it doesn't own, would require it to pay about $1.83 billion.

Elliott, which has about $16 billion in assets under management, said it had been...
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