Arcadia Capital Advisors Told OpenTV To Not Tender Shares (OPTV)

Sat. October 31, 2009; Posted: 02:34 PM

Oct 31, 2009 (SmarTrend(R) News Watch via COMTEX) -- OPTV | Quote | Chart | News | PowerRating -- 10/31/2009 - Arcadia Capital Advisors LLC told OpenTV Corp. (NASDAQ:OPTV) shareholders that they should not tender their shares to Kudelski Group due to the fact that its offer is too low. Kudelski Group made an offer on October 5 to buy the outstanding shares from OpenTV for $1.55 per share. Arcadia, who is an investor in OpenTV, said it will not tender the shares it owns because it believes that the offer is too low. Arcadia Managing Director Richard Rofe said that the company believes the offer is "coercive and has created unfounded fears about Kudelski's ultimate plans to delist OpenTV's stock or not complete the full acquisition of OpenTV in a timely manner or at a fair price."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Opentv Corporation Cl A (OPTV) click here. Opentv Corporation Cl A (OPTV) has Short Term PowerRatings of 5. Details on Opentv Corporation Cl A (OPTV) Short Term PowerRatings is available at This Link.

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