March 15, 2007 (Mountain View and San Francisco, CA; Boise, ID) – LawFuel.com – Business Law News – Fenwick & West LLP represented its client Cisco Systems Inc. (NASDAQ: CSCO) in its proposed acquisition of WebEx Communications, Inc. (NASDAQ: WEBX), a provider of on-demand applications for collaborative business on the web. Cisco will commence a cash tender offer to purchase all of the outstanding shares of WebEx for $57 per share and will assume outstanding share-based awards, for a total transaction value of approximately $3.2 billion. The transaction is subject to closing conditions, including approval under Hart-Scott-Rodino and similar laws outside the U.S., and is expected to close in the fourth quarter of Cisco’s fiscal year 2007.
