Key Developments For Cisco Systems, Inc.
Cisco Systems, Inc. (CSCO.O) (Nasdaq)
Cisco Systems, Inc. Raises Tandberg ASA Bid Offer to NOK 170 per Share-DJ
Dow Jones reported that Cisco Systems, Inc. (CSCO) has raised its bid offer for Tandberg ASA to NOK 170 per share from NOK 153.50 per share, and extending the offer period to December 1, 2009. The new offer represents the offeror's final price for this transaction. Cisco will withdraw the offer if it does not achieve the desired 90% level of acceptances. Cisco has received acceptances representing over 40% of Tandberg's shares, including from the main shareholders, Folketrygdfondet and Oppenheimer Funds.
Ingram Micro, Inc. Signs Global Contract With Cisco Systems, Inc; Launches Global Order Desk
Ingram Micro, Inc. announced that it has signed a global contract with Cisco Systems, Inc. that standardizes terms and conditions across all regions. As Cisco's distributor, Ingram Micro will now be able to offer its resellers international access to Cisco products and related services with consistent terms, processes and support. The contract applies to the more than 150 countries in which Ingram Micro supports Cisco sales. In addition, customers receive dedicated worldwide Cisco support through the Ingram Micro Global Order Desk, which will help customers fulfill orders all over the world. Staffed by a team of knowledgeable specialists, the Global Order Desk ensures that all parties comply with all legal, tax and trade requirements that are typical in cross-border deployments.
Magyar Telekom Plc. Offering Cisco Systems, Inc.'s Cisco TelePresence As Managed Service In Three Central and Eastern European Countries
Cisco Systems, Inc. announced that Magyar Telekom Plc. is offering Cisco TelePresence as a managed service in three Central and Eastern European countries: Hungary, Macedonia and Montenegro. Customers can use Cisco TelePresence for virtual meetings internally, as well as for intercompany meetings with partners, customers and suppliers. Over the next several months, Magyar Telekom is planning to extend this service to additional countries in the region. Additionally, Magyar Telekom offers Cisco WebEx online meetings as part of its Virtualoso managed services package, designed for small and medium-sized businesses.
Cisco Systems, Inc. Disclosure Of Tandberg ASA Share Acceptances
Cisco Systems, Inc. announced that with reference to the announcements made on October 1, and October 12, 2009, regarding the voluntary public cash offer to acquire all outstanding shares in Tandberg ASA, Cisco has received acceptances representing 7,919,338 shares in Tandberg ASA. Following receipt of these acceptances, Cisco holds rights to acquire 10,493,298 shares in Tandberg ASA, representing 9.37% of the shares and voting rights in Tandberg ASA. Soon after expiration of the extended offer period on November 18, 2009, at 5:30 pm CET, Cisco will announce whether the 90% condition for the offer has been met. If not, Cisco will evaluate whether or not to withdraw the offer.
Cisco Systems, Inc. Prices $5 Billion Of Senior Unsecured Notes
Cisco Systems, Inc. announced the pricing of three series of senior unsecured notes for an aggregate principal amount of $5 billion. The offering is expected to close on November 17, 2009. Of these notes, $500 million will mature in November 2014 and will bear interest at an annual rate of 2.90%, $2.5 billion will mature in January 2020 and will bear interest at an annual rate of 4.45%, and $2 billion will mature in January 2040 and will bear interest at an annual rate of 5.50%. Cisco intends to use the net proceeds from this offering for general corporate purposes.
