Novell Shareholders Adopt Attachmate Corporation Merger

 

The original Agreement and Plan of Merger announced on November 21, 2010, was adopted in a special stockholder meeting held yesterday.

Novell reports that approximately 99% of the shares that voted in the special meeting of stockholders voted in favor of the adoption of the merger agreement and represented approximately 66% of Novell's total outstanding shares of common stock.

Once the merger is complete, Novell stockholders are entitled to receive $6.10 in cash for each share of Novell common stock held by them. The stockholder approval satisfied only one of the conditions to complete the merger.

Conditions yet to be satisfied or waived include the patent sale to CPTN and includes the receipt of antitrust approval in U.S and Germany. According to the press release, Novell and CPTN received a request for additional information from the Antitrust Division of the U.S. Department of Justice regarding the patent sale. Novell continues to cooperate fully with the Department of Justice in connection with its review and is in the process of gathering all the requested information and is working to complete the merger as quick as possible.