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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: TJC who wrote (5452)12/2/1996 8:21:00 PM
From: E_K_S   of 42771
 
Hi Tom - We have to be very specific as to what Mr Troop states...."...And we've also stated that the filing wasn't made in relation to any knowledge the company has about any intended actions, attempted takeovers from others, or whatnot. So we've tried to be clear about that".

We must make sure he (P. Troop) does not box himself into a corner for possible future offers and leave Novell liable for possible class action suites. I still read into this that he has closed the door on any buyout UNLESS a new proposal is presented to the board that "the company had no knowledge".

If Novell got an unsolicitated offer WHY WAS IT NOT STATED TO THE SHAREHOLDERS AS INADEQUATE! A future proposal or new offer would stand alone and become a bidding auction. The only thing I can think of is that any offer came with the condition that it was not to be disclosed to the public. However if it was a unilaterial offer why not disclose it UNLESS NOVELL was looking for a counter offer somewhat higher????

If so, according to Troop his statement based on his shareholder calls (ie "the filing wasn't made in relation to any knowledge the company has about any intended actions, attempted takeovers from others, or whatnot") would indicate NO TYPE OFFER WAS EVER DELIVERED TO NOVELL or Counter Offer <PERIOD>!

Therefore, any new offer for Novell would be based on activity AFTER 11/21/96 which I think has NEVER occured.

Dodn't get your hopes up for any takeover and look at SALAH's lonterm analysis. I really think we have seen the low. Looking to the $21 number in 18 months.

EKS
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