Cisco Again Threatens to Abandon Tandberg Bid

• By John Paczkowski
• On 8:20 am EST, Tuesday November 10, 2009

With opposition to its $3 billion bid to acquire Tandberg ASA mounting, Cisco Systems (CSC) is extending its offer for the video teleconferencing company until Nov. 18, leaving the terms and conditions unchanged. So shareholders who’ve balked at the offer have an additional 8 days to mull it over. Should they decline to accept it at the end of that period, Cisco may walk away from the deal rather than increase its bid. “Soon after expiration of the extended offer period on 18 November 2009 at 5:30 pm CET (1630 GMT), Cisco will announce whether the 90 percent condition for the offer has been met,” the company said in a filing this morning. “If not, Cisco will evaluate whether or not to withdraw the offer.”