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.
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