The battle for middleware company OpenTV has entered its final stages with the Kudelski Group announcing it had secured the 60% of Class A shares it did not already own.
When the $1.55 per share offer closed at 23.00 ET on November 12, 2009, the Swiss technology company had secured 91% of the voting rights.
Kudelski has now put forward a subsequent offer for the outstanding Class A shares, at the same $1.55 purchase price, and closing at 17.00 ET this evening. “The subsequent offering period provides all shareholders a final opportunity to receive immediate and certain liquidity at a value that exceeds the value that Kudelski believes OpenTV could deliver as a standalone public company,” read a Kudelski statement.
Kudelski will now look to delist the OpenTV shares from the NASDAQ exchange.