Cisco extends Tandberg deal deadline

Terms and conditions remain in place but deadline extended

Cisco this week said is extending the acceptance period for its $US3 billion cash offer to acquire Tandberg to Nov. 18. The initial acceptance deadline was Nov. 9.

The terms and conditions set out in the offer document remain in place during the extended offer period, Cisco said. Cisco's facing pressure from shareholders owning about 30 per cent of Tandberg to raise its offer.

The board of Tandberg unanimously recommended on Oct. 1 that shareholders accept Cisco's offer, which Cisco says represents a 38 per cent premium on the price of Tandberg stock as of July 15. But in addition to the opposition from shareholders owning 30 per cent of the company, two investment firms with a stake in Tandberg issued an open letter to Cisco CEO John Chambers and Senior Vice President Ned Hooper detailing why Cisco's offer did not reflect Tandberg's value.

Tandberg is the leading vendor in videoconferencing. Cisco said Tandberg's products would help it fill out its mid-range and desktop videoconferencing portfolio -- Cisco's own TelePresence systems occupy the high end -- and also enhance its offerings in the $US30 billion collaboration market.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags mergers & acquistionstandbergcisco

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jim Duffy

Network World
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?