Wednesday, March 03, 2010

Hedge Fund Offers to Buy Novell -

More NOVL details

Elliott said in its letter it believes Novell's stock has "meaningfully underperformed all relevant indices and peers" as it attempted to diversify away from its original business with a string of acquisitions and changes in focus "that have largely been unsuccessful."

The hedge fund noted that Novell currently has a cash balance of nearly $1 billion, representing nearly 60% of its market capitalization.

Hedge Fund Offers to Buy Novell -

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