Monday, U.S.-based Cisco Systems, Inc, along with postponing the offer period for Norway's Tandberg ASA, also increased its cash offer for the same to 170 Norwegian kroner a share from NOK153.50 a share offered earlier.  

Cisco explained that the new offer represents the final price for this transaction. However, the company, if fails to get the wanted 90% level of acceptances; may also withdraw the offer.  

Tandberg's shares are valued at around NOK19 billion ($3.41 billion) by the raised offer.

Cisco clarified about the acceptances, which it has won, representing over 40% of Tandberg's shares, including from the largest shareholders, Folketrygdfondet and Oppenheimer Funds.

The acceptance for the new offer was given Monday by Peter Germonpre, managing director at minority Tandberg shareholder Panta Capital, who described the offer as satisfactory although "not a knock-out bid."

In an open letter on 6th November, the previous NOK153.50 a share bid was said to be too low by investment firm Panta Capital, which owns below 1% of Tandberg's shares.

On Monday, Germonpre had a word with Scott & Associates AG, another Tandberg owner with less than 1% of the shares. Hopefully, Scott & Associates AG would also accept the new bid.

The deadline for the offer was extended to 18th November last week by Cisco, with the aim of attracting the left hold-outs seeking a richer bid.