Cisco has 84% of Tandberg locked up

Still needs 6% more to close the deal

Cisco this week said it now controls 84% of the outstanding shares in Tandberg. Cisco needs 90% to win the company and Tandberg has until today to accept its $3.4 billion bid.

Cisco said it will announce soon after expiration of the extended offer period on Dec. 3 at 5:30 pm CET whether the 90% condition for the offer has been met. If not, Cisco said it will determine whether to withdraw the offer or waive this condition. 

The offer period will not be extended past Dec. 3, Cisco added. It's already the third time Cisco extended the offer deadline.

More from Cisco Subnet:

Win great stuff from Cisco Subnet Like e-mail? Subscribe to the Cisco Alert newsletter.Cisco Subnet RSS feed

Like RSS readers? Subscribe to the

Follow all Cisco Subnet bloggers on Twitter.Jim Duffy on Twitter


Join the Network World communities on Facebook and LinkedIn to comment on topics that are top of mind.

Copyright © 2009 IDG Communications, Inc.