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Cisco raises offer to 3.4 B

16 Nov 2009 @ 6:29 PM

Cisco on Monday said that it will raise its bid for video conferencing company Tandberg to $3.4 billion, up from $3 billion. The higher offer arrived after Tandberg shareholders balked at the first bid.

In a statement, Cisco said 40 percent of Tandberg shareholders tendered shares to the networking company.

Tandberg shareholders have proven to be a tough crowd for Cisco. The rub: Cisco extended the deadline for the deal to Dec. 1 and said it will withdraw its offer if 90 percent of Tandberg shareholders don’t agree to it.

Cisco Yields to Tandberg Shareholders (gigaom.com)

Posted By: ecomtech
Last Edit: 16 Nov 2009 @ 06:29 PM

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Tags: Business, Cisco, Cisco Systems, Data Communications, Manufacturers, Tandberg, Vendors, Videoconferencing
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