Cisco has upped its bid for Norwegian video-conferencinghotshot Tandberg, revaluing the firm at $3.4bn after shareholders turned theirnoses up at its previous offer.
The networking giant had previously said it wanted 90% ofTandberg shareholders to okay its previous offer, but found that slightly over 90%of them thought the previous bid undervalued Tandberg.
A rummage in Cisco's pockets has come up with around $400mto raise the bid.
"If the offeror does not achieve the desired level ofacceptances, the offeror will withdraw the new offer and evaluate alternativeways to expand Cisco's activities in the video communications market," thevendor warned in a statement.
Its latest offer has already been accepted by two ofTandberg's majority shareholders, funds Folketrygdfondet and OppenheimerFunds -according to Reuters - and 40% of its investors are thought to be on board. Theoffer expires on 1 December.
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