Court denies Next Level appeal in Motorola takeover

ROHNERT PARK, Calif.-Delaware Supreme court declined to hear Next Level Communications Inc.’s appeal requesting it to block majority shareholder Motorola Inc.’s takeover bid of the rest of the company.

Describing the court’s decision as disappointing, Next Level said, “We continue to believe that Motorola’s offer significantly undervalues Next Level’s long-term potential and is not in the best interests of our stockholders.”