– Google (NASD: GOOG) has increased by nearly 25% its offer for On2 Technologies, the video
encoding firm it bid $106.5 million for in August 2009.
The extra 15 cents per
share from Google boosts the offer to about $133.9 million, and constitutes the
company’s "final offer."
Google said that by raising its offer,
"On2’s stockholders will receive additional value for their On2 common
stock that Google and On2 believe better reflects the value that On2’s
stockholders would have received had the acquisition closed closer to the time
of its announcement in August 2009."
Following the announcement of the
deal, investors in On2 filed lawsuits in New York
seeking to block the deal, saying it undervalued the company, and benefitted
the On2’s management, board and employees more than investors.
(DMW previous coverage)