Novell Rejects $2B Bid

Novell, a Waltham, MA-based network software maker, announced that its board rejected a $2 billion buyout bid from private equity firm Elliott Associates, saying that the $5.75-per-share offer undervalues the company’s growth prospects. Novell said that the board would examine alternatives for increasing stockholder value through methods such as stock repurchases, cash dividends, partnerships, or a sale of the company.

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