Tandberg has reached an agreement with Cisco where Cisco has made a voluntary
cash offer for 100% of the Tandberg shares at NOK 153.50/share. The offer
represents a premium of 11% to yesterday's close.
Tandberg's Board of Directors recommends its shareholders to accept the offer.
The complete details of the offer will be sent in an offer document to TAA
shareholders next week. The acquisition is expected to close during the first
half of 2010.
There are currently listed options and forwards with November 2009 and February
2010 expirations. Oslo Børs will not list additional expiration months* and the
February expiration will not be moved forward unless the acquisition is to
close before 18 February 2010.
*) Please note that this does not apply to options and forwards listed at
NASDAQ OMX.
For further information, please see the attached file.
