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Polycom gets revised bid from private equity firm

June 8, 2016 | Telepresence Options


Story and images by Reuters

Polycom Inc (PLCM.O) said it received a revised offer from a private equity firm - the third time the bidder has revised its offer since the video conferencing equipment maker agreed to be acquired by Canada's Mitel Networks Corp (MNW.TO).

Polycom's shares rose about 2.5 percent to the new offer price of $12.25 in light premarket trading on Wednesday.

The revised offer values Polycom at $1.66 billion, based on its outstanding shares as of April 21. Mitel's cash-and-stock deal was valued at $1.96 billion in April.

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