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Zacks Analyst Blog Highlights: Novell, Inc., J.P. Morgan, Hewlett-Packard Company, International Business Machines and SAP AG

Business Wire, March 05, 2010

http://www.zacks.com/

CHICAGO — Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and
events impacting stocks and the financial markets. Stocks recently
featured in the blog include: Novell, Inc. (Nasdaq: NOVL),
J.P. Morgan (NYSE: JPM),
Hewlett-Packard Company (NYSE: HPQ),
International Business Machines (NYSE: IBM)
and SAP AG (NYSE: SAP).

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Profit from the Pros newsletter: http://at.zacks.com/?id=4579

Here are highlights from Thursdays Analyst Blog:

Novell Receives Buyout Offer

Enterprise software marker and leading technology company Novell, Inc.
(Nasdaq: NOVL)
announced that it has received a buyout offer from Elliott Associates,
L.P., the largest institutional stockholder of Novell, which holds
approximately 8.5% of NOVL common stock. Elliott is an investment firm
with over $16 billion in assets.

Under the unsolicited offer, Elliott Associates plans to acquire Novell
for $5.75 per share in cash, which implies an enterprise value net of
cash of $1.0 billion. This price represents a premium of 49% over the
company’s current enterprise value, 77% over the company’s 90-day
volume-weighted average enterprise value and a 115% premium over the
company’s enterprise value on January 4, 2010, when Elliot planned to
purchase Novell.

The offer price also represents a 37% premium to Novell’s closing stock
price on January 4, 2010 and a 20% premium over the companys closing
price on March 2.

Novell said that its Board of Directors will review the buyout offer in
consultation with its financial and legal advisors J.P. Morgan
(NYSE: JPM)
and Skadden Arps.

Novell shares rose 28% and closed at $6.08 yesterday. The shares soared
25.89% (or $1.23) to $5.98 in after-hours trading, just after the
company made the offer public. The surge in share price indicates
positive investor sentiments regarding the takeover.

According to analysts, the deal may be subject to a competitive bidding
process as it appears that larger companies such as Hewlett-Packard
Company (NYSE: HPQ),
International Business Machines (NYSE: IBM)
and SAP AG (NYSE: SAP)
may bid for Novell.

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About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative
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the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded
stocks. Our analysts are organized by industry which gives them keen
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