Tandberg shareholders lukewarm on Cisco bid
Published: 11 Nov 2009 15:56 GMT
Less than 10 percent of Tandberg shareholders have accepted Cisco's cash offer for the company, according to a Cisco statement on Tuesday.
In October, Cisco offered $3bn (£1.8bn) in cash to acquire Tandberg, in a move designed to strengthen its position in video conferencing. However, some Tandberg shareholders have resisted the takeover, despite Tandberg management's backing for the Cisco offer.
In a statement, Cisco said it needs the backing of 90 percent of Tandberg shareholders. Cisco has already extended the deadline from 9 November to 18 November. Once that deadline has passed, Cisco said it will decide whether to extend or withdraw the offer.
For the full story, see Cisco finds Tandberg shareholders a tough crowd.
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