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Polycom (PLCM) Sees Renewed Interest From Gores Group
Posted on 03/26/10 at 8:10am by Ed Liston
According to a report by the Financial Times, Polycom, Inc. (NASDAQ: PLCM) is seeing renewed interest from The Gores Group. Apparently, private equity firm The Gores Group is pushing Polycom to merge with one of its portfolio companies.
Polycom has also seen interest from Apax Partners, a London-based private equity firm, which was looking for a $3 billion buyout of the company; however talks between the two ended earlier in March, without Apax making an official offer. Los Angeles-based Gores had first approached the company in October but was turned down. But with Apax Partners showing an interest in the company, Gores has been prompted to make a fresh attempt at a possible merger between Polycom and one of its portfolio companies.
Shares of Polycom were up 3.33% in after-hours trading on Thursday in New York.
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