Cisco's options, as Tandberg bid faces opposition

Nov 6th, 2009 - Reuters

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NEW YORK/LONDON (Reuters) - U.S. network equipment maker Cisco Systems Inc (CSCO.O) faces a touch choice as the Monday deadline approaches for its $3 billion tender offer for Norwegian video conferencing company Tandberg ASA (TAA.OL).

Investors holding about 30 percent of Tandberg's shares have demanded a higher price than the 153.50 crowns ($26.93) per share that Cisco offered, which presumably means that the U.S. company will not get the 90 percent shareholder approval that it would need to close the acquisition.

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