Cisco edges closer to completing Tandberg video conferencing deal
Paul Milligan, December 2, 2009
Be the first to comment on this article
Cisco has received acceptance from 84 per cent of Tandberg shareholders, and is now just six per cent short of the 90 per cent it needs for the deal to be completed. Cisco has upped its price for Norwegian video conferencing manufacturer Tandberg by 10 per cent to $3.4bn since its first initial offer of just over 3bn.
The deadline for the deal has been extended three times and was last extended on 1 Dec, it now expires on 3 Dec. Cisco will have to decide then if it is to withdraw its $3.4bn offer completely or continue with the dead and waive that condition of the purchase.
It has said the offer period will not be extended past December 3.
Loading ...
