Elliott Associates has offered to acquire software maker Novell.
The acquisition offer, delivered in a letter to Novell's board of directors, is valued at $1.8 billion, or $5.75 per share. Elliott Associates already owns 8.5 percent of Novell's shares, which it began buying up in January.
According to The Wall Street Journal, Elliott Associates told Novell's board that the stock has "meaningfully underperformed" and called recent acquisitions and changes in strategies "unsuccessful." The hedge fund says its experience in restructuring and acquisitions will "deliver maximum value to shareholders." … Read more