Menu
Cisco extends Tandberg deal deadline

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.


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags mergers & acquistionstandbergcisco

Featured

Slideshows

HP channel recognised at 2017 Partner Awards

HP channel recognised at 2017 Partner Awards

The HP Partner Awards 2017 at Shed 10 kicked off with an AMD-sponsored hackers lounge, a mysterious gaming style area filled with dry ice and red lasers, the waiters wearing Mr Robot style masks.

HP channel recognised at 2017 Partner Awards
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Show Comments