Kudelski is making a tender offer to buy the remaining shares

Kudelski is making a tender offer to buy the remaining shares in middleware subsidiary Open TV. It is bidding $1.55 a share which is a 17% premium over the $1.33 price of October 2, and an appealing 55% premium to the price prior to Kudelskiís last attempt to mop up stock. .

Kudelski tried a similar strategy before, but this fresh bid, besides being worth more cash to shareholders, is good for one day only November 6, when the offer will expire at 5pm New York time.
The tender offer bypasses OpenTVís board. The bid is worth about $167m
Kudelski says it plans to finance the transaction through a credit facility, as well as from available cash held by Kudelski and its subsidiaries. The commencement and consummation of the tender offer does not require the approval or recommendation of the OpenTV board, and Kudelski has not asked the OpenTV board to approve or support the tender offer.

Kudelski and its subsidiaries currently own approximately 13.4% of OpenTVís outstanding Class A shares and 100% of OpenTVís outstanding Class B shares, which together represent approximately 32.3% of the total outstanding shares of OpenTV and 77.2% of the voting power of OpenTVís shares.