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.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: General
Companies: Mitel / Polycom
Countries: World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Siris sells most of its shares in Poly, adjusting board of directors

Published 28 Aug 2020 08:56 CET | World
Private equity firm Siris Capital Group has sold 4.1 million out of its 7.1 million shares in Plantronics, or Poly. The sold ...

Plantronics to acquire Polycom for USD 2 billion

Published 28 Mar 2018 15:45 CET | World
Plantronics has agreed to acquire Polycom for USD 2 billion, the same price the company was sold to private equity firm Siris ...

RingCentral names adviser after takeover interest - report

Published 11 Aug 2017 10:02 CET | World
Unified communications provider RingCentral is working with an adviser after receiving takeover interest, people familiar with ...

Former Nokia exec McDowell named CEO of Polycom

Published 07 Sep 2016 15:34 CET | World
Polycom's new owner Sisis Capital has proposed its partner Mary McDowell as the new CEO of the videoconferencing specialist. ...

Polycom shareholders approve takeover

Published 06 Sep 2016 15:39 CET | World
Polycom announced that a special meeting of its stockholders has approved the company's takeover by Siris Capital Group. The ...

ShoreTel forms committee to look at strategic alternatives

Published 05 Aug 2016 09:19 CET | World
ShoreTel has hired JP Morgan to advise it on strategic alternatives that could include a sale of the company. A group of ...

Polycom posts Q2 net loss on merger costs

Published 22 Jul 2016 10:33 CET | World
Polycom reported a net loss of USD 10.0 million for the second quarter, reversing a profit of USD 19.6 million a year ago due to ...

Polycom accepteert bod van Siris

Published 13 Jul 2016 10:38 CET | World
Polycom geeft aan dat het de voorgenomen overname door Mitel heeft afgeblazen en dat het een overnameovereenkomst met Siris heeft ...

Polycom receives increased bid to challenge Mitel offer

Published 09 Jun 2016 08:43 CET | World
Polycom has received an updated offer from an unidentified private-equity firm seeking to challenge the agreed bid with Canada's ...

Mitel to acquire Polycom for USD 1.96 bln

Published 15 Apr 2016 13:58 CET | World
Business cloud and mobile communications company Mitel Networks has announced a deal to acquire Polycom, a US-based provider of ...

Calendar   /   Industry Events

25 Oct Facebook Q3
25 Oct Dtac Q3 2021
25 Oct Calix Q3 2021
26 Oct F5 Networks fiscal Q4
26 Oct Twitter Q3 2021
26 Oct MediaTek Q3
26 Oct Microsoft fiscal Q1
26 Oct SK hynix Q3
26 Oct Orange group Q3 2021
26 Oct Siminn Q3 2021
26 Oct KPN Q3 2021
26 Oct NENT Q3 2021
26 Oct Juniper Networks Q3 2021
26 Oct Corning Q3
26 Oct TIM Brasil Q3 2021
26 Oct Alphabet Q3 2021
26 Oct Digital Realty Q3
26 Oct MWC Los Angeles
26 Oct Samsung Developer Conference
26 Oct Cabsat
26 Oct FCC meeting
27 Oct Vertiv Q3
27 Oct Netgear Q3
27 Oct Megacable Q3
27 Oct Twilio Q3
27 Oct Telefonica Deutschland Q3 2021
27 Oct TIM Q3 2021
27 Oct Spotify Q3 2021
27 Oct Android Dev Summit
27 Oct Digital Utilities Europe 2021
::: More Calendar Items