Okay, Tandberg we're increasing our offer to buy you to $3.39 billion, says Cisco, but this is it.
As reported in the Wall Street Journal, Cisco said its latest offer, which will expire on December 1st "represents the offeror's final price for this transaction." At this stage, Cisco's revised offer has been accepted by many of Tandberg's biggest shareholders, Folketrygdfondet and Oppenheimer Funds.
However, the revised offer is not enough to sway minority shareholder Panta Capital, which said it was 'satisfactory,' but "not a knock-out bid." Previously, Panta was one of the shareholders that said Cisco's initial purchase price was too low.
Cisco's drive to get Tandberg is part of a company-wide goal to expand their presence in video teleconferencing for businesses and consumer devices.
For more:
- Wall Street Journal has this article
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