Cisco Systems Inc. on Tuesday extended the acceptance period for its $3.4 billion bid for Norway's Tandberg ASA by two days, after failing to secure enough support for the offer within the original timeframe.
Cisco Systems on Tuesday said it is extending the offer period for its bid to acquire Tandberg of Norway. The networking gear maker said the new deadline is Dec. 3. Cisco last month raised its offer for the videoconferencing company to $3.4 billion, hoping to overcome resistance from some shareholders.
The bad blood was rumored to be at a slow boil. But when Hewlett-Packard Co. announced last month it would buy the long-forgotten networking company 3Com Corp., it was official. H-P and Cisco are no longer friends.
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