Kudelski completes takeover of OpenTV

Digital TV company Kudelski has purchased approximately 60 per cent of the shares in OpenTV Corp it had not already owned for $1.55 a share, taking its voting rights to 91 per cent.

In February, Kudelski had proposed buying the remainder of OpenTV’s shares for $1.35 per share, but withdrew that bid in June after a special committee set up by OpenTV’s board rejected it as inadequate.

Kudelski also announced that it has commenced a subsequent offering period to acquire all of the remaining outstanding Class A shares.

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