Contact Information: Press Contact: John Noh 408 853-8445 jnoh@cisco.com Investor Relations Contact: Laura Graves 408 526-6521 lagraves@cisco.com
Cisco Completes Tender Offer for WebEx
| Source: Cisco
SAN JOSE, CA -- (MARKET WIRE) -- May 22, 2007 -- Cisco Systems, Inc. (NASDAQ : CSCO ) today
announced the completion of its tender offer for all outstanding shares of
WebEx Communications, Inc. (NASDAQ : WEBX ).
The tender offer expired at 12:00 Midnight, New York City time, on Monday,
May 21, 2007. As of such time, an aggregate of approximately 47.1 million
shares of WebEx common stock (including approximately 3.8 million shares
that were tendered pursuant to the guaranteed delivery procedures), or
approximately 92.2% of WebEx's outstanding shares, had been tendered into,
and not withdrawn from, the offer. All of such shares have been accepted
in accordance with the terms of the tender offer. Cisco intends to
complete the merger contemplated by the merger agreement as soon as
practicable, with WebEx becoming a wholly owned subsidiary of Cisco.
As announced previously, on March 27, 2007, Cisco, through its wholly owned
subsidiary Wonder Acquisition Corp., commenced a tender offer for all
outstanding shares of WebEx at a price of $57.00 per share net to the
seller in cash without interest, less brokerage fees and less any required
withholding taxes, pursuant to the definitive merger agreement between
Cisco and WebEx.
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