Virtualization Magazine on Ulitzer
Cisco had to up its bid Monday for Tandberg to overcome stockholder resistance to the $3 billion deal the Norwegian video conferencing equipment maker's board agreed to. The sweetener for what Cisco calls a "very strategic" asset amounts to roughly another $400 million making the share price 170 Norwegian crowns (~$30.46) rather than 153.50. Cisco, which needs to amass 90% of Tandberg's stock under Norse law to take it over, has extended its offer till December 1. It said Monday that it had 40%.