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  • Tuesday, April 23, 2024

M&A Activity- Cisco Increases Offer to Acquire TANDBERG

Cisco has revised its offer to acquire TANDBERG to include a voluntary cash offer. Under the new terms, Cisco will purchase all outstanding shares for a total of close to $3.4 billion.

Under the new offer, Cisco will also increase the interest payable on the offered price to 3 percent, up from the original 1.75 percent in the original offer. This alteration represents the final price offer by Cisco. Shareholders in TANDBERG have offered their preliminary acceptance of the offer based on the revised terms. The period of acceptance for the offer expires on December 1, 2009. If the attempt is unsuccessful, Cisco will withdraw its attempt and seek an alternate way to enter into video communications.

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