Cisco raises bid for Tandberg to $3.4 billion

Posted: November 18, 2009 in Tech

Cisco Systems upped its offer for Tandberg to 170 Norwegian kroner a share, or 19 billion kroner ($3.4 billion) in total. Cisco will also increase the interest payable on the new offer price to 3.0% per annum.

Cisco’s last offer valued Tandberg at around 17.2 billion kroner. The new offer represents Cisco’s final price for this transaction and if this offer does not achieve the desired level of acceptances, Cisco said it will withdraw its new offer and evaluate alternative ways to expand its activities in the video communications market.

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