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Industry News Desk Tandberg Holds Cisco Up for More Money
Cisco’s having trouble herding Tandberg’s shareholder into its pen
By: Maureen O'Gara
Nov. 13, 2009 02:15 PM
Cisco's having trouble herding Tandberg's shareholder into its pen. Despite the deal it cut with management, it's only gotten 9.37% of the shareholders to accept its $3 billion cash offer for the videoconferencing equipment maker. They figure it's worth more than Cisco's 38% premium; Cisco doesn't. The offer was set to expire Monday. Cisco has extended it till November 18. It says if it doesn't have the necessary 90% by then it "will evaluate whether or not to withdraw the offer." Cisco CEO John Chambers last week expressed confidence the deal would get done.
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