Kudelski Group’s $1.55 per share offer for OpenTV was under pressure on Tuesday after the Swiss technology company announced it was extending the deadline for acceptances by six days to November 12, 2009.
In a statement, Kudelski said it wanted to provide OpenTV shareholders with ample time to consider the relevant information that has been distributed since the offer was first made. Kudelski says this includes OpenTV’s results, scheduled to be released later today, though these would have fallen within the original November 6 deadline.
There will be fears that the extension is a recognition that statements by shareholders such as Arcadia Capital Advisors, which described the $1.55 offer as “too low”, are beginning to have some impact.
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