Openwave has filed documents with the Securities and Exchange Commission outlining a restructuring plan which will sit it cut about 300 positions by June 30. “The company said the restructuring will cost as much as $23 million, but save as much as $50 million annually” reports RCRNews. Harbringer Capital Partners has extended its offer to buy more than 40 million shares (which would give it control of the company) but has lowered its offer from $8.30 to $7.10 to reflect a special divident announced by Openwave.
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