Clock Runs Out Today on Cisco’s Tandberg Offer

Later today, we’ll know whether Tandberg shareholders were willing to tender 90 percent of the company’s stock to Cisco, pursuant to the terms and conditions of the networking giant’s $3.4-billion acquisition bid for the Norway-based videoconferencing-systems vendor.

The deadline for the offer, which sees Cisco paying 170 Norwegian crowns for each share, is 5:30pm Central European Time, which translates as 11:30am Eastern and 8:30am Pacific.

If Cisco doesn’t quite reach the 90-percent threshold, what it does next will be closely watched. It could walk away from the deal, but most observers think the company will waive the 90-percent requirement and attempt to negotiate, presumably from a position of strength, with the diminished numbers of naysaying shareholders.

The actual percentage of shares tendered is likely to be very close to the required target. Without a doubt, much arm twisting, cajoling, campaigning, persuading, and remonstrating have been occurring behind the scenes.


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