In the voluntary public cash offer to acquire all outstanding shares in TANDBERG, Cisco (NASDAQ: CSCO), following acceptances received yesterday, now controls approximately 84% of the outstanding shares in TANDBERG (OSLO: TAA).
This information is made subject to the disclosure requirements acc. to 4-2 (2) of the Norwegian Securities Trading Act (Verdipapirhandelloven).
Soon after expiration of the extended offer period on December 3, 2009, at 5:30 pm CET, Cisco will announce whether the 90 percent condition for the offer has been met. If not, Cisco will determine whether to withdraw the offer or waive this condition. The offer period will not be extended past December 3.
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Cisco, the Cisco logo and Cisco Systems are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
This document is Cisco Public Information.
TANDBERG is a registered trademark or trademark in the U.S. and certain other countries. All other trademarks are property of their respective owners.
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the proposed announcement of whether the 90 percent condition for the offer has been met and whether Cisco will withdraw the offer or waive this condition. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, obtaining a sufficient number of tendered shares of common stock and regulatory approval of the acquisition, the potential impact on the business of TANDBERG due to the uncertainty about the acquisition, the retention of employees of TANDBERG and the ability of Cisco to successfully integrate TANDBERG and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent report on Form 10-Q filed with the SEC on November 18, 2009. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.