Tandberg Television shareholders have until Friday to accept Ericsson’s cash offer for the company, which was already recommended by Tandberg's board of directors, AP reported.
The offer was originally scheduled to expire on Tuesday, according to AP.
Several major shareholders already accepted the 106-kroner-per-share ($17.22) offer, but it was not immediately clear how many shares Ericsson has acquired, and the company needs at least 90% of Tandberg shares for the takeover bid to be successful, according to AP.
Arris -- which submitted its own bid for Tandberg Jan. 15, prior to Ericsson’s bid -- officially pulled itself out of the running last Thursday.
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