Google and On2 Revise Merger Agreements

Video solutions provider, On2 has announced that their merger with Google has been modified with revised merger agreements. According to a report on TechCrunch, On2 shareholders now get an additional $0.15 in cash for every share that they hold.

The merger deal between Google and On2 that was announced in August of last year got into trouble when On2 shareholders sued the management for selling the company at a lower valuation. Back then, Google had agreed to offer 0.0010 share of Class A common stock in exchange for every share of On2.

Following the revised agreements, Google has said that their stock valuation has significantly increased since the agreement was made and also with an additional 15 cents per stock, the deal should be satisfactory to the shareholders.

The new shareholder meeting is expected to happen next month.

[via TechCrunch]