Tandberg, a US$2bn Norwegian video conferencing business, has announced that discussions with a potential private equity bidder have been terminated.
The talks regarding a potential stake purchase or even takeover bid ended as it has “become impossible to achieve acceptable pricing and financing conditions” in the current economic climate, Tandgerg said in a statement.
In early August, Tandberg announced that it had been approached by an unnamed private equity firm regarding a potential offer. JP Morgan was duly engaged as a financial adviser.
Tandberg’s share price on the Oslo Stock Exchange was 68 crowns, a 4.63% drop from yesterday’s close, and significantly down since the original announcement when shares were trading at 98 crowns. The announcement spiked shares to between 110 and 120 crowns for much of the rest of August and September.
Source: Thomson Merger News