Polycom Ends Mitel Pact, Accepts $2 Billion Siris Offer

  • Private equity firm offers $12.50 a share, a 14% premium
  • Mitel agreed in April to buy Polycom in $1.96 billion deal

Polycom Inc. agreed to end its merger pact with Mitel Networks Corp. and accepted an offer from private equity firm Siris Capital Group valued at about $2 billion, opting for an all-cash bid that will allow it to remain somewhat independent.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.