We reported Google acquiring On2 Technologies for a healthy $106.5 Million but it appears On2’s shareholders aren’t in favor of the acquisition. They have filed a lawsuit demanding that the deal should be frozen, why? Because they think that On2’s directors have fished the firm for the best possible cash value. The think that On2’s stock could have traded at a better value, which sounds pretty confusing as many had agreed with the deal, given that On2 execs had mentioned that shareholders will have a chance to be amongst Google’s shareholders too. I guess its shareholders fear the risks involved and amalgamating new technologies into the existing one of the company, which itself is pretty firm. Lets see how this shapes up later when SEC has statements filed.
