Shareholders representing 24% of the shares in Tandberg reject Cisco's (CSCO -0.5%) $3B offer...

|About: Cisco Systems, Inc. (CSCO)|By:, SA News Editor

Shareholders representing 24% of the shares in Tandberg reject Cisco's (CSCO -0.5%) $3B offer for the videoconferencing equipment maker, fuelling hopes Cisco might raise its bid. "The shareholders are convinced that Tandberg will generate strong returns as an independent company, but are open to evaluate a higher offer from Cisco or a third party," a brokerage representing 21 top shareholders said.