Kudelski Launches $144.9M Mln Cash Bid For OpenTV

[lunavic50]

LOL now why are they trying to dump it...lol


("=2nd UPDATE: Kudelski Launches $167.3 Mln Cash Bid For OpenTV" published at 0620 GMT, misstated the size of the deal in the first paragraph and in the headline. The outstanding shares in the second paragraph were also misstated. The correct version follows

By Katharina Bart
Of DOW JONES NEWSWIRES


ZURICH (Dow Jones)--Kudelski SA (KUD.VX) Monday launched a $144.9 million cash bid for OpenTV Corp. (OPTV), four months after the San Francisco, CA-based digital television products firm rejected a lower bid.

The Swiss digital and analog television security and systems firm said it already owns roughly 32.3% of OpenTV's stock in Class A and B shares. The offer is for the remaining Class A shares Kudelski doesn't already own, which according to Kudelski spokesman Daniel Herrera tally nearly 94 million.

OpenTV wasn't immediately available for comment.

The bid, which isn't subject to conditions on how many Class A shares are tendered, represents a nearly 17% premium over OpenTV's closing price of $1.33 Friday.

"Kudelski believes the combination is in the best interest of OpenTV's employees, customers and partners because of Kudelski's commitment to the sustainability of the business and Kudelski's ability to invest in research and development and growth to ensure OpenTV has a strong future in the context of an intensely competitive environment," the Swiss firm said in a statement.

Kudelski, which is being advised by Credit Suisse on the acquisition, said it will finance the deal through a credit facility and available cash held.

The latest offer comes four months after Kudelski withdrew a $1.35-a-share bid for OpenTV's common stock, which was rejected by OpenTV.

Kudelski said the newest bid requires neither the approval nor the recommendation of OpenTV's board, which Kudelski said it hadn't sought.

OpenTV's board is chaired by Kudelski chairman, chief executive and major shareholder Andre Kudelski, and the Swiss firm has several representatives on the U.S. firm's board, including Kudelski Chief Financial Officer Mauro Saladini.

[chazmangus]

what does this mean for us? free tv I doubt it.

[lunavic50]

Originally Posted by chazmangus

what does this mean for us? free tv I doubt it.

WOW

Sign of the times I guess.... man what has happened to us

[cheeks]

Originally Posted by chazmangus

what does this mean for us? free tv I doubt it.

Free TV dose Nagra mean anything to the digital media transmission?


I think this may help you with your question.


About The Kudelski Group
The Kudelski Group (SIX: KUD.VX) is a world leader in digital security and convergent media solutions for the delivery of digital and interactive content. Its technologies are used in a wide range of services and applications requiring access control and rights management to secure the revenue of content owners and service providers for digital television and interactive applications across broadcast, broadband and mobile delivery networks. The Kudelski Group is also a world technology leader in the area of access control and management of people or vehicles to sites and events. It additionally offers professional recorders and high-end Hi-Fi products. The Kudelski Group is headquartered in Cheseaux-sur-Lausanne, Switzerland. Please visit nagra.com for more information.