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General

Polycom accepts USD 2 bln bid from Siris

Friday 8 July 2016 | 15:29 CET | News
Polycom said it has terminated its previously announced USD 1.96 billion merger agreement with Canada's Mitel Networks and accepted one from Siris, for USD 12.50 per share in cash, or a total of USD 2 billion, including debt. A report had earlier noted the company received a higher offer from an unidentified private equity firm. Polycom will pay the requisite termination fee and then enter into a new merger agreement with Siris, previously described as "Sponsor 1" in Polycom's filings with the US Securities and Exchange Commission.

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Categories: General
Companies: Mitel / Polycom
Countries: World
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