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  • Cisco closes Tandberg video acquisition

    Cisco Systems closed its acquisition of Tandberg on Monday, formally ending a tense struggle over the fair value of the Norwegian videoconferencing vendor.

  • Cisco wins Tandberg with 91.1 percent stake

    After a hard-fought battle, Cisco has won control of videoconferencing leader Tandberg with ownership of 91.1 percent of the company's shares.
    Cisco had to raise its initial US$3 billion offer and extend the acceptance deadline three times in order to gain control of the company. Cisco's initial offer, made on October 1, was rejected by more than 90 percent of Tandberg shareholders. 
    Late Thursday, at the expiration of the third acceptance deadline, Cisco said it controlled 89.1 percent of Tandberg shares. The condition for ownership of the company was control of 90 percent of Tandberg shares, but Cisco waived this condition based on a 2 percent stake it acquired in November, according to published reports.  
    Of the 140 or so acquisitions Cisco has made in the past 16 years, Tandberg was perhaps the most challenging. Two groups of shareholders controlling 30 percent of the company balked at the initial $3 billion offer. And then two investment firms representing other stakeholders issued a public letter to Cisco CEO John Chambers and Senior Vice President Ned Hooper stating that Cisco was undervaluing the company and spelling out specific reasons why it should hike its offer.

  • Shareholders sue 3Com directors over HP merger

    3Com's board of directors is facing a lawsuit over the proposed acquisition by Hewlett Packard Development Company, but a financial analyst who studies Ethernet switching argued if approved, both vendors would benefit from the deal.

  • Cisco lays out why it might let Tandberg deal go

    Cisco Systems may be laying the groundwork for dropping its US$3 billion offer for videoconferencing vendor Tandberg despite the emphasis it has placed on video as the future of communications.

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