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.