Siris Capital to buy Polycom, thwarting Elliott's Mitel merger: Reuters
Video conferencing equipment maker Polycom Inc said it agreed to be bought by a U.S. private equity firm for about US$1.7 billion, scrapping a three-month old deal with Canada's Mitel Networks Corp, Reuters reported. The private equity firm, Siris Capital Group, offered US$12.50 a share in cash for Polycom. The deal thwarts a plan by U.S. activist hedge fund Elliott Management, which bought stakes in both Polycom and Mitel and played a leading role in getting the two to agree to a merger.
8 July 2016•2 mins read
