OpenTV turns down Kudelski's 'inadequate' $1.35-per-share offer

By Lisa Kerner

Charlotte, N.C., June 3 - OpenTV Corp.'s special committee rejected the unsolicited proposal by Kudelski SA to acquire the company for $1.35 per share.

According to OpenTV, the offer is inadequate and not in the best interests of the company and its stockholders.

The special committee made its decision with the assistance of UBS Securities LLC, an OpenTV news release said.

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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