GREENWICH, Conn., March 20 /PRNewswire/ -- Private investment firm Blue Harbour Group, which owns 4 percent of Novell, Inc. (Nasdaq: NOVL), today issued the following statement from CEO Clifton S. Robbins in response to today's announcement by Novell:
"We agree with Novell's management and Board of Directors that the company's value significantly exceeds Elliott's proposal. Blue Harbour has been in active and constructive discussions with Novell's management in recent months on various alternatives to create and unlock value, and we support the company's decision today to pursue a formal review process with the assistance of its advisors."
Blue Harbour Group was formed in 2004 to pursue a private equity approach to public markets by acting as a lead minority investor working cooperatively with managements and boards to create and unlock shareholder value.
CONTACT: Adam Weiner Kekst and Company (212) 521-4823 [email protected]
SOURCE Blue Harbour Group