OpenTV board makes no recommendation on Kudelski's recent offer

By Lisa Kerner

Charlotte, N.C., Oct. 21 - OpenTV Corp.'s board of directors is remaining neutral on Kudelski SA's recent offer to acquire the company for $1.55 per share.

According to a company news release, OpenTV has filed a schedule 14D-9 solicitation/recommendation statement with the Securities and Exchange Commission in response to Kudelski's Oct. 5 offer.

As previously reported, the tender offer expires on Nov. 6.

The deal does not require the approval or recommendation of OpenTV's board.

Earlier in the year, OpenTV's board rejected Kudelski's $1.35-per-share bid to buy the company.

OpenTV's software enables cable, satellite, telecommunications and digital terrestrial operators to offer enhanced television experiences to their viewers. The company is based in San Francisco.

Kudelski is based in Cheseaux, Switzerland, and provides digital security and convergent media solutions for the delivery of digital and interactive content.

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