Cisco Raised Its Bid To $3.4 Billion With Tandberg

Cisco Raised Its Bid To $3.4 Billion With Tandberg

24th November 2009

It has been in the air that the bid of Cisco which was done with Tandberg, a video conferencing vendor of Norway, has been increased to an amount of 19 billion Norwegian Kroner which equals to 3.4 billion of the US $. This bid has gone up by an amount of $ 0.3 billion. Cisco has also said that the prices will not be raised any more after this.

The expiration date for this new offer has been decided to be Dec 1, 2009. The company has also said that it has been made the final offer amount by the company and it will not be changed to any other amount further.

This offer has already been accepted by the additional 30 percent share holders of Tandberg, which has taken this number of shares to go to 40 percent. But Cisco needs 90 percent of the support by the share holders in order to make this deal work properly.

The actual offer by Cisco was done on Oct 1 with Tandberg. That offer was immediately called low by some on the commentators and it was said by a Swedish stockbroker on Oct 15 that this $3.0 billion offer will not be accepted by such stockbrokers of Tandberg who have a share of less than 24 percent.