A law firm in Pennsylvania is looking into whether Starent Networks is shirking its fiduciary responsibility to its shareholders by accepting Cisco's $2.9 billion acquisition offer. Cisco announced its intention to acquire Starent, which specializes in gateways to the enhanced packet core of 4G wireless networks, earlier this month.
A release on the investigation appears here. In a nutshell, the law offices of Brian M. Felgoise, of Jenkintown, PA., is soliciting input from Starent shareholders on whether they feel adequately compensated by Cisco's offer.
Cisco is also facing resistance from a block of Tandberg shareholders -- who hold 24% of the Norwegian videoconferenceing company -- on acceptance of its $3 billion bid for that company. Looks like Cisco will have to dig a little deeper into its deep pockets for Tandberg -- and maybe Starent.
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