Cisco begins $57-per-share cash tender offer for WebEx

By Lisa Kerner

Charlotte, N.C., March 27 - Cisco Systems, Inc. said its wholly owned subsidiary, Wonder Acquisition Corp., began its $57.00-per-share tender offer for all outstanding shares of WebEx Communications, Inc.

Unless extended, the tender offer will expire at midnight ET on April 23, according to a company news release.

Cisco and WebEx announced a definitive merger agreement, worth an estimated $3.2 billion, on March 15. Both the companies' boards of directors have approved the merger.

Cisco is an IP-network developer located in San Jose, Calif.

WebEx, based in Santa Clara, Calif., develops web collaboration services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.