Cisco Systems Inc. said it has enough shares and shareholder commitments to take over Norway’s Tandberg ASA, the world’s largest videoconferencing equipment maker.
Cisco had said Thursday that stockholders representing 89 percent of the shares had accepted its $3.4 billion bid for the company — just shy of the 90 percent needed.
But on Friday, Cisco said it has bought up shares on the open market to raise its stake above 91 percent and clinch the acquisition.
It comes after a hard-fought takeover effort. Cisco’s original offer of $3 billion attracted less than 10 percent of the company’s shareholders. It later raised the bid.
The company also said it has received a second request for information from the Justice Department, which is looking into possible antitrust concerns from the deal.