Cisco needs 90% of acceptances from Tandberg shareholders to complete the deal.
On Tuesday, Cisco extended the offer to Dec. 3, and on Wednesday said the bid wouldn't be extended. The company plans to announce on Thursday whether the 90% condition has been met. If the condition hasn't been met Cisco said it will "determine whether to withdraw the offer or waive this condition."
Last month, Cisco raised its offer for Tandberg, the world's biggest maker provider of videoconferencing equipment for businesses, to $3.41 billion (19 billion Norwegian kroner).-- Reported by Joseph Woelfel in New York . Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV