Bulington, Mass.-based Nuance Communications, which develops speech-recognition software, said today it was giving Zi Corp. shareholders two more weeks to consider its $20 million buy-out offer, which pencils out to about 40 cents a share in cash. Previously, the decision had to be made by Jan. 2, but now it’s being pushed out to Jan. 14. Nuance said the date was moved to extend “past the holiday season to allow Zi shareholders additional time to consider the offer and tender their shares.” All other terms of the deal remain the same. The deal likely won’t be made easily. Zi Corp’s board has recommended against it, saying it doesn’t adequately value the company. Nuance argues that it represents a 25 percent premium over the closing price of Zi common shares on Aug. 13, the day before Nuance made its initial proposal. Still, Nuance’s original offer was also for twice as much, or about $40 million. Release.
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