Kudelski's tender offer for OpenTV shares now set to expire Nov. 12

By Lisa Kerner

Charlotte, N.C., Nov. 3 - Kudelski SA extended its $1.55-per-share tender offer for OpenTV Corp.'s outstanding shares to 11 p.m. ET on Nov. 12 from Nov. 6.

According to Kudelski, approximately 1,535,792 class A shares of OpenTV had been tendered into and not withdrawn from the offer as of the close of business on Monday.

Kudelski said it extended the deadline to give OpenTV shareholders time to consider information released since the offer began on Oct. 5. This includes OpenTV's third-quarter results, which were expected to be announced on Tuesday.

As previously reported, OpenTV's board of directors said it is remaining neutral on Kudelski's offer.

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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