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Article: UNited States :Cisco extends acceptance period for Tandberg bid.
- Article from:
- TendersInfo
- Article date:
- November 10, 2009
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Byline: datta03
Cisco Systems Inc (CSCO.O) extended on Monday its $3 billion tender offer for Tandberg ASA (TAA.OL) by nine days, after some shareholders of the Norwegian videoconferencing company demanded a higher price.
Cisco, the largest U.S. network equipment maker, said it would extend its offer, originally due to expire on Monday, to November 18, but the terms and conditions of its 153.50 crown-per-share offer would remain unchanged until then.
Analysts said they expect Cisco to sweeten its bid, possibly to around 160 crowns or 170 crowns. Tandberg shares were up 0.53 percent at 151.80 crowns on Monday and Cisco shares were up 0.3 percent ...