Cisco Announces Termination of Hart-Scott-Rodino Waiting Period for Acquisition of WebEx
SAN JOSE, Calif. Cisco Systems, Inc. (NASDAQ: CSCO) today announced, in connection with its tender offer for all of the outstanding shares of WebEx Communications, Inc. (NASDAQ: WEBX), that the waiting period for US antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was terminated on April 6, 2007. The tender offer remains subject to regulatory approval by competition authorities in various jurisdictions outside the United States.
As announced previously on March 27, 2007, Cisco, through its wholly-owned subsidiary Wonder Acquisition Corp., has commenced a tender offer for all outstanding shares of WebEx at a price of $57.00 per share net to the seller in cash without interest, less brokerage fees and less any required withholding taxes, pursuant to the definitive merger agreement between Cisco and WebEx.
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