Despite protestations to the contrary, Cisco is not having an easy time closing its $3.34 billion Tandberg deal.
First, Cisco had to endure a protracted period of haggling and negotiation with recalcitrant Tandberg shareholders. Eventually, after the gamesmanship and ultimatums receded, Cisco sweetened tis offer and persuaded the Tandberg resistance movement to acquiesce.
Everybody thought it was a done deal. Now, though, regulators at the European Union have extended their review of Cisco’s pending Tandberg acquisition so that they can more closely examine redress of competitive concerns.
Even though Betfair doesn’t yet run a market on whether Cisco’s deal for Tandberg or HP’s pending bid for 3Com will go through, I’d have to think the odds remain heavily in favor of Cisco getting a somber nod of approval from the EU regulators when the review expires on March 29.
Still, Cisco could hardly have known that its pursuit of Tandberg, a videoconferencing vendor of considerable strategic value to the networking titan, would become a Nordic melodrama.
Meanwhile, potential acquirers of Polycom might wait until the end of this month before deciding whether the time is right to close their deal.