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Novell Shares Surge On Ibm Takeover Speculation

Associated Press

Shares of Novell Inc. rose more than 15 percent Tuesday on speculation that International Business Machines Corp. may take over the software firm.

Analysts cited an article in the Aug. 25 edition of PC Week magazine for sparking the takeover rumor. Novell shares closed at $9.96-7/8, up 96-7/8 cents on the Nasdaq Stock Market.