On2 Technologies, Inc. (ONT) said it agreed to amend the merger agreement with Google Inc. (GOOG), under which Google will acquire On2.
Under the revised terms, each outstanding share of On2 common stock will receive 0.0010 of a share of Google Class A Common Stock for each share of On2 common stock, as previously announced, plus an additional $0.15 per share in cash consideration.
The revisions to the terms of the merger agreement serve, in part, to address the fact that, since the acquisition was first announced in August 2009, the market value of Google's Class A Common Stock has increased significantly while the value of the acquisition has remained fixed for On2's stockholders.
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