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Tandberg Holds Cisco Up for More Money

Cisco’s having trouble herding Tandberg’s shareholder into its pen
By Maureen O'Gara
Article Rating:
November 13, 2009 02:15 PM EST
Reads:
 661

Cisco Virtualization Journal

Cisco's having trouble herding Tandberg's shareholder into its pen. Despite the deal it cut with management, it's only gotten 9.37% of the shareholders to accept its $3 billion cash offer for the videoconferencing equipment maker. They figure it's worth more than Cisco's 38% premium; Cisco doesn't. The offer was set to expire Monday. Cisco has extended it till November 18. It says if it doesn't have the necessary 90% by then it "will evaluate whether or not to withdraw the offer." Cisco CEO John Chambers last week expressed confidence the deal would get done.

Published November 13, 2009 – Reads 661
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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025.

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