Cisco Systems raised its offer for Tandberg on Monday in an effort to win over the Norwegian teleconferencing company’s shareholders. Cisco, the top maker of networking equipment, increased its offer to NKr170 a share (about $3.4bn), from NKr153.5, or $3bn, and said it would extend the offer period to Dec 1, warning that the revised deal was its “final price”. Investors holding 24% of Tandberg’s shares had publicly rejected the initial offer, while Norwegian law requires 90% approval for a takoever.
See also FT Alphaville, here.

This entry was posted by Gwen Robinson on Tuesday, November 17th, 2009 at 4:47 and is filed under Capital markets, M&A. Tagged with Cisco, tandberg. Edit this entry.