Cisco is extending the acceptance period for its recommended public cash offer to acquire all outstanding shares in Tandberg. The extended offer period expires on 18 November. The terms and conditions set out in the offer document remain in place during the extended offer period. The board of Tandberg has unanimously recommended that shareholders accept a voluntary cash offer for 100 percent of the shares of Tandberg. A cash consideration of NOK 153.50 will be offered per share, valuing the total share capital of Tandberg at approximately NOK 17.2 billion. Cisco already has received acceptances representing 7.92 million shares in Tandberg. Following receipt of these acceptances, Cisco holds rights to acquire 10.49 million shares in Tandberg, representing 9.37 percent of the shares and voting rights in Tandberg. Soon after expiration of the extended offer period on 18 November, Cisco will announce whether the 90 percent condition for the offer has been met. If not, Cisco will evaluate whether or not to withdraw the offer.
