Polycom (PLCM -4.2%) slumps after disclosing P-E firm Sun Capital Partners is trying to back out...

|By:, SA News Editor

Polycom (PLCM -4.2%) slumps after disclosing P-E firm Sun Capital Partners is trying to back out of a May deal to acquire Polycom's enterprise cordless phone business for $110M. Polycom says it will file a lawsuit to enforce the terms of the deal - the struggling videoconferencing hardware vendor has been planning to use a large chunk of the proceeds to finance stock buybacks.