Cisco extends Tandberg deadline again

$3.4 billion offer for videoconferencing company still on the table

Cisco has once again extended its deadline for videoconferencing leader Tandberg to accept its raised offer for the company. Cisco hiked the offer for Tandberg to $3.4 billion from $3 billion on Nov. 16 and gave the company's shareholders until Dec. 1 to accept.

Dec. 1 came and almost went when Cisco gave the company two more days to mull it over, according to this report from colleague Stephen Lawson. The terms remain the same, however.

Cisco's initial $3 billion offer on Oct. 1 was approved by the Tandberg board but a couple of blocks of shareholders representing about 30% of company ownership rejected the deal as too low. Cisco extended the initial deadline from Nov. 9 to Nov. 18 after less than 10% of the shares were tendered, and then raised its offer while extending the deadline again to Dec. 1.

Today's modest extension does not include a sweetened offer though. Cisco needs 90% shareholder approval for the deal to go through.  

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• Cisco
• mergers and acquisitions
• Tandberg
• videoconferencing