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Follow on Google News | Novell, Inc. Investor Alert: Offer under investigationInvestigation on behalf of investors of Novell, Inc. (Public, NASDAQ-NOVL) shares over possible breach of fiduciary duty – Contact the Shareholders Foundation
By: Shareholders Foundation, Inc. If you are a currently a long term investor in shares of Novell, Inc. and / or if you have additional information relating the investigation, you have certain options and you should contact the Shareholders Foundation at: mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554 The investigations by law firms focus on potential breaches of fiduciary duty and other violations of state law arising out of the offer to sell Novell, Inc. to Elliott Associates, L.P. Novell, Inc., located in Waltham, MA, develops, sells and installs enterprise software that is positioned in the operating systems and infrastructure software layers of the information technology industry. On March 02, 2010 Novell, Inc. confirmed that it has received an unsolicited, conditional proposal from Elliott Associates, L.P. to acquire Novell, Inc for $5.75 per share in cash, which implies an enterprise value net of cash of $1.0 billion. According to Elliott Associates, L.P. and Elliott International, L.P the price represents a premium of 49% over Novell’s current enterprise value and 77% over its 90-day volume-weighted average enterprise value; the price represents a premium of 115% over Novell’s value on January 4, 2010, the last trading day before to Elliott Associates, L.P. and Elliott International, L.P commenced actively acquiring Novell's common stock; and the price also represents a 37% premium to Novell's closing stock price on January 4, 2010 and a 20% premium to Novell's closing stock price yesterday. But according to one investigation by a law firm “the transaction appears to be unfair” to current investors of Novell, Inc. (Public, NASDAQ-NOVL) Shares of Novell, Inc. traded in after hours at $5.99 per share, thus above the proposed offer. NOVL shares traded at almost $5 per share as early as in Feb 2010, at $6.43 in August 08, at $7.08 in May 2008, at $7.45 in Feb. 2008, and at almost $10 per share in 2006. The investigation “concerns, among other things, further whether Elliott Associates, L.P. may be underpaying for Novell, Inc. (NOVL), thus unlawfully harming NOVL shareholders” Those who are currently long term investors in shares of Novell, Inc. (Public, NASDAQ-NOVL) mail@shareholdersfoundation.com or at: +1 (858) 779 – 1554 Shareholders Foundation, Inc. Trevor Allen 3111 Camino Del Rio North - Suite 423 - 92108 San Diego Phone:+1-(858)- Fax:+1-(858)- mail@shareholdersfoundation.com www.ShareholdersFoundation.com ____________________________________________________________ # # # The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon End
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