Cisco ties up tender offer for WebEx

Cisco Systems today announced the completion of its tender offer for all outstanding shares in WebEx Communications, a US-based provider of corporate web conferencing services.

The tender offer expired on 21 May, by which time approximately 47.1 million shares of WebEx common stock, representing around 92.2 per cent of the firm's outstanding shares, had been tendered to Cisco.

The networking giant intends to complete the "merger" as soon as practicable, at which point WebEx will become a wholly owned subsidiary.

Cisco commenced a tender offer for all outstanding WebEx shares on 27 March through its wholly owned Wonder Acquisition Corp subsidiary at a price of $57 per share.

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