Cisco Set To Take Over Tandberg After Gaining Shares

Law360, New York (December 4, 2009, 3:17 PM EST) -- Communications giant Cisco Systems Inc. announced Friday it had won key control of more than 90 percent of shares in Tandberg ASA after silencing outcry from shareholders in the Norwegian videoconferencing company with a higher bid.

Cisco announced that in its quest to acquire all the outstanding shares in Tandberg with a voluntary cash offer, it had either received acceptances for or bought shares that pushed its control of Tandberg shares to 91 percent.

That puts Cisco at the required threshold to take over Tandberg and...
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