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Article: United States : Cisco s bid for Tandberg "fair", says consultant.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mamta03
Cisco Systems Inc (CSCO.O: 行情) said its $3 billion offer for video conferencing company Tandberg ASA (TAA.OL: 行情) is "a very good price," defending the bid after some Tandberg shareholders demanded more money.
Investors holding 24 percent of shares of Tandberg had snubbed Cisco's bid last month, hoping they could force the top U.S. network equipment maker to offer more.
But Ned Hooper, senior vice president and chief strategy officer at Cisco, said on Monday that the bid reflects the potential value of the deal as well as the risks involved in trying to integrate a European public company into the San ...