Wiersholm assisted Cisco Systems Inc.

Wiersholm assisted Cisco Systems Inc. in relation to the company's recommended offer to acquire TANDBERG ASA.

On 1 October 2009 Cisco Systems Inc., the US-based provider of networking solutions,  announced a definitive agreement for Cisco (through Cisco Systems Netherlands Holdings BV) to launch a recommended voluntary cash offer to acquire Tandberg ASA, the Norwegian-listed provider of telepresence, high-definition videoconferencing and mobile video products. As set forth in the Offer Document dated 7 October 2009, Cisco commenced a cash tender offer to purchase all the outstanding shares of Tandberg ASA for an aggregate purchase price of approx. NOK 17 billion (approx. USD 3 billion).

On November 16, 2009 Cisco raised its bid for Tandberg to a total of approx. NOK 19 billion (approx. USD 3.4 billion). Cisco will pay 170 kroner a share under the terms and conditions set forth in the Offer Document and the release of 16 November 2009.

The acquisition is expected to close during the first half of calendar year 2010. 

Wiersholm is advising Cisco on the transaction.