[3/8/07] Tandberg TV’s board has extended a unanimous recommendation to shareholders that they accept Ericsson’s buyout offer, Tandberg announced March 7.
 
Ericsson made an unsolicited offer Feb. 26 to acquire Tandberg for 9.8 billion Norwegian kroner ($1.6 billion). Ericsson has acquired 11.7 percent of the outstanding shares in Tandberg and has entered into agreements to acquire another 13 percent, Ericsson said.

Ericsson’s unsolicited offer “represents a compelling opportunity for the shareholders of Tandberg Television and a superior offer compared to the offer of Arris [Group Inc.],” Tandberg’s board said. Tandberg would operate as a wholly owned subsidiary of Ericsson and strengthen Ericsson’s position in Internet protocol TV (IPTV) offerings.