According to reports, Ericsson has acquired 90 percent of the shares in Tandberg Television after buying more than 15 million last month and recently received acceptances. The percent is noteworthy because it marks the ownership threshold for the company, which intends to complete the voluntary public cash offer soon. Ericsson scooped up Tandberg TV earlier in the month shortly after a deal was announced with Arris. Tandberg TV's board of directors unanimously voted to go with Ericsson's premium offer. As a result, the company withdrew its transaction agreement with Arris and had to pay Arris an $18 million termination fee. Of course, that's small potatoes when compared to the 63 percent premium Ericsson is gearing up to pay for Tandberg TV.
For more on the Tandberg TV acquisition:
- see this article from DMEurope