Advertisement
News
Advertisement

Kudelski Group taking another run at OpenTV

Mon, 10/05/2009 - 8:25am
Mike Robuck

The Kudelski Group announced today that it’s taking another stab at full ownership of OpenTV with a deal valued at $215 million.

Today’s deal is an all-cash tender offer of $1.55 per share to OpenTV shareholders for the 94 million outstanding shares that Kudelski doesn’t already own.

The offer represents a 17 percent increase over OpenTV’s closing price of $1.33 on Friday and it ends Nov. 6. Kudelski said the offer doesn’t require the approval or recommendation of OpenTV’s board, and it’s not subject to a financing condition.

Kudelski currently owns 13.4 percent of OpenTV’s Class A shares. In February, it attempted to buy the remaining shares for $1.35 per share, but Kudelski ended up pulling its bid in June after a committee set up by OpenTV’s board rejected the offer.

More Broadband Direct 10/05/09:
•  Charter rolls out ESPN360.com red carpet
•  Sprint announces WiMAX in Texas markets
•  Comcast looks to future in bid for NBCU
•  Arris S/W manages complex VOD rollouts
•  Nagravision scores DTA waiver from FCC
•  Kudelski Group taking another run at OpenTV
•  Ciena in talks to buy some Nortel assets
•  Camiant opens new offices in Europe, Asia Pacific
•  Vonage releases calling app for iPhone, BlackBerry
•  Adobe unveils Flash Player 10.1
•  Broadband Briefs for 10/05/09

 

Advertisement

Share This Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading