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.

Check Also

Carl Press

Thoma Bravo to Acquire Cloud-Based Collaboration Tech Provider Exostar; Carl Press Quoted

Private equity firm Thoma Bravo has agreed to buy Exostar, a Herndon, Va.-based provider of cloud-based business collaboration platforms for aerospace and defense, health care and life sciences industries, for an undisclosed sum.

Peter Cannito

AE Industrial Partners Buys Deep Space Systems; Peter Cannito Quoted

AE Industrial Partners has purchased space components and payloads provider Deep Space Systems for an undisclosed sum. AEI said Monday it will merge DSS with spacecraft components manufacturer Adcole Maryland Aerospace, which was acquired in March, to establish Redwire, a space technology platform that will focus on building mission-critical systems and electronics for next-generation space architecture.