Novell Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates

WALTHAM, Mass., March 2 /PRNewswire-FirstCall/ -- Novell, Inc. NOVL today confirmed that it has received an unsolicited, conditional proposal from Elliott Associates, L.P. to acquire the Company for $5.75 per share in cash.  Novell anticipates that its Board of Directors will review Elliott's proposal in consultation with its financial and legal advisors.  J.P. Morgan is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Novell.

About Novell

Novell, Inc. NOVL delivers an interoperable Linux* platform and a portfolio of integrated IT management software designed to help customers around the world reduce cost, complexity and risk. With our infrastructure software and ecosystem of partnerships, Novell harmoniously integrates mixed IT environments, allowing people and technology to work as one. For more information, visit www.novell.com.

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SOURCE Novell, Inc.