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ROHNERT PARK, Calif.-Next Level Communications Inc. said it plans to appeal a court ruling that denies its request to prevent Motorola Inc. from taking over the company.
“The court’s ruling does not change our belief that Motorola’s offer significantly undervalues Next Level’s long-term potential and is not in the best interests of our stockholders,” said the company in a press release.
Motorola, which owns majority shares in the firm, made an unsolicited tender offer to acquire all outstanding shares of Next Level for $1.04 per share, according to Next Level.
