Polycom receives revised $12.25 per share takeover offer
Polycom said that the private equity firm, identified as “Sponsor 1”, had given a new offer of $12.25 (U.S.) per share.
Sponsor 1 offer comprises $650-million of equity financing and $950-million of debt financing, Polycom said.
Sponsor 1’s previous offer included a cash dividend of $11 per share and purchase of $650-million in shares of a new convertible preferred stock of Polycom.
Mitel agreed to buy the U.S. company in April for about $1.96-billion. ■