Gerald, Thank You. Posting time 16:53 Today. STEVE FANCY - IN A NUTSHELL .... what you were asking about --> Summarized.
Joe ... <and I printed and read the whole thing yesterday <groan>>
PS: Gerald, posting time makes sense to me <G>. Trade rags get it tonight. Makes tommorow's Web Pages before and during trading ... followed by Q4 results ... excellent execution ... Ummmm.. for better or for worse, right?
Oh yes, is Bill going to invite someone from Novell to his "Technology Summit" that he is going to preside over in May when he gives an open house? <chuckle>. Sigh, I "knew" Randolph Hearst, and Bill Gates is no Randolph Hearst. <Sigh>.... Rosebud, Rosebud, Rosebud ....
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Novell adopts rights plan
Reuters Story - November 25, 1996 16:53
FINANCIAL BUS ENT US DPR MRG DIV NOVL V%REUTER P%RTR
Jump to first matched term
OREM, Utah, Nov 25 (Reuter) - Novell Inc said its board
approved a rights plan to protect shareholders in the event of
an unsolicited attempt to take the company over in a way the
board would deem unfavorable.
However, in a filing with the Securities and Exchange
Commission, the software company said the plan would not
prevent a takeover and is not designed to do so.
Under the plan the board declared a dividend to buy
preferred stock.
The plan goes into effect if a party accumulates 15 percent
or more of the outstanding stock.
Rumors have circulated for more than a year that the Orem,
Utah-based software giant might be the object of a takeover.
The rights plan was adopted to deter tactics designed to
deprive the company and holders of an opportunity to control
the company's destiny, Novell said.
It said things it is concerned about include a two-tier
tender that does not treat all shareholders equally.
The dividend gives a holder the right to buy one 1/000
share of Novell Series A junior participating preferred stock
for each outstanding share of common at an exercise price of
$65. The dividend is payable on Dec. 16.
The rights plan was written in 1988, but amended last week.
The company was unavailable to comment on the plan.
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