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SAN JOSE, Calif. -- Cisco Systems, Inc. (NasdaqGS:CSCO - News) today announced that it is extending its previously announced tender offer for all outstanding shares of WebEx Communications, Inc. (NasdaqGS:WEBX - News) until 12:00 Midnight, New York City time, on Monday, May 21, 2007 (which is the end of the day on May 21, 2007). The tender offer is being extended because certain foreign regulatory approvals necessary for the consummation of the tender offer are not expected to have been received by the previously scheduled expiration date of Monday, May 7, 2007. Cisco expects to complete its tender offer in the first half of the fourth quarter of Cisco's fiscal year 2007.
As announced previously, on March 27, 2007, Cisco, through its wholly owned subsidiary Wonder Acquisition Corp., 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.
As of 3:00 p.m., New York City time, on Friday, May 4, 2007, an aggregate of approximately 35 million shares of WebEx common stock had been tendered into, and not withdrawn from, the offer.
Cisco Systems Inc.
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