Motorola extends to the Next Level

24 Feb 2003

Motorola has extended its offer to take full ownership of broadband provider Next Level Communications, after the original deal was scheduled to expire on 25 February. Motorola already owns 74% of the company and has said it will buy the outstanding shares at USD1.04 per share up until 4 March. Next Level, which earlier this month filed a lawsuit against Motorola claiming that the vendor tried to coerce its shareholders into an ‘inadequate’ takeover, has recommended that its shareholders reject the bid.