Arris Group has said the company is evaluating Ericsson’s bid for Tandberg Television following Monday’s surprise bid for the technology company. In a statement Arris said it was currently assessing its options but would be making no further comment.
Ericsson’s SKr9.8 billion (€1.05bn) all cash offer for Tandberg represents a 10.4% increase over the offer made by Georgia-based Arris.
During a press conference in Stockholm on Monday afternoon it was revealed that Ericsson had been studying a potential bid for Tandberg for some time following the arrival of new President and CEO Carl-Henric Svanberg. The situation was hastened by last month’s bid for Tandberg by Arris. (JC)