[Satellite TODAY 11-02-09] The Kudelski Group urged shareholders of OpenTV Corp. to approve a proposed tender offer before it expires Nov. 6.
    The letter, dated Oct. 30, is in regards to the Oct. 5 offer Kudelski made to acquire OpenTV for $215 million. In the letter, Kudelski also informed shareholders that it eliminated a condition from the offer that would have obligated Kudelski to accept shares relating to the receipt of sufficient proceeds under a credit facility described in its offer filed with the U.S. Securities Exchange Commission (SEC). 
    Kudelski’s tender offer provides OpenTV shareholders with exit options and premiums. In an Oct. 26 presentation to the SEC, Kudelski warned shareholders that its offer is “the only near-term solution to an otherwise illiquid security, particularly for the larger institutional shareholders.”