Mitel Networks Is Alive Again
Darspal S Mann
Darspal S Mann
Fri, Sep. 16, 10:46 AM
- ShoreTel (SHOR -0.1%) and Mitel Networks (MITL -0.4%) are expected to pick up deal talks again, with Mitel taking another shot at an acquisition, CTFN reports.
- That's despite counter-indications from Mitel chief Richard McBee.
- But reasons for the deal haven't changed, CTFN sources say: Pressure remain for mid-sized equipment vendors against bigger competitors, and a few bad quarters may turn up the pressure on the two.
- “Who else is Mitel going to acquire?” asked an industry banker. “RingCentral’s (RNG +0.4%) too expensive. Mitel and ShoreTel aren’t profitable and they need to find synergies and increase EBITDA.”
Thu, Aug. 4, 6:33 AM
Wed, Aug. 3, 5:30 PM
- AAC, AAON, ACRE, ACTA, AGCO, AGIO, AKRX, ALSK, AMCX, AME, AMRN, ANIP, ANSS, APA, APLP, ARRY, AYR, BBW, BCE, BCRX, BDX, BLL, CBB, CCOI, CHD, CHK, CNNX, CNSL, COT, CPK, CRIS, CRZO, CTB, DNR, DUK, DW, ELOS, EPAM, ESNT, EVA, FMSA, GLDD, GLOG, GOGO, GTN, HAR, HGG, HII, HL, HMHC, HRC, HSC, HSIC, HSNI, ICPT, IMGN, IOC, IPCC, IRM, IT, ITCI, ITT, K, KOP, LBY, LFUS, LGND, LIOX, LPX, LQDT, LXRX, MFC, MGM, MGP, MITL, MMS, MNTA, MPEL, MPG, MPW, NAO, NERV, NGS, NOK, NSAM, NXTM, OGE, OMAM, OMF, ORBC, PBH, PCRX, PGNX, PGTI, PH, PLUG, PPP, PRFT, PRIM, PRTY, PWR, QSR, RDUS, REGN, RFP, RGEN, RLGY, ROLL, RVLT, RWLK, SBH, SEAS, SFM, SGM, SHLX, SNR, SPAR, SPH, SRE, SSTK, SSYS, STFC, STOR, STWD, TDY, TEVA, THS, TICC, TIME, TK, TNK, TOO, TSEM, TVPT, TWI, UAM, UNT, USAC, USCR, VIAB, VLP, VWR, WIN, WPC, WRK, XLRN
Fri, Jul. 8, 3:00 PM
Fri, Jul. 8, 12:45 PM
Fri, Jul. 8, 9:15 AM
Fri, Jul. 8, 7:41 AM
- Polycom (NASDAQ:PLCM) announces that it terminated the company’s previously announced merger agreement with Mitel Networks (NASDAQ:MITL) after receiving a new offer from Siris Capital Group.
- A termination fee will be paid to Mitel today.
- The Siris merger is expected to close in Q3.
- PLCM +13.615% premarket to $12.35. MITL +24.1% to $7.47.
- Source: Press Release
Fri, Jul. 8, 7:12 AM
- Siris Capital Group announces that its affiliates have submitted an offer to acquire Polycom (NASDAQ:PLCM) for $12.50 per share in a $2B all-cash transaction.
- The offer is subject to Polycom terminating its existing merger agreement with Mitel Networks Corporation (NASDAQ:MITL).
- Siris’ offer will remain in effect until no later than July 15.
- Shares of Mitel are under a trading halt.
- PLCM +8% premarket.
- Source: Press Release
Wed, Jun. 8, 7:40 AM
- Polycom (NASDAQ:PLCM) +2.4% premarket after disclosing that it received a revised offer from a P-E firm to take it private at $12.25/share.
- PLCM says the unidentified buyer's proposal comprises $650M of equity financing and $950M of debt financing.
- In April, PLCM had agreed to be acquired by Mitel Networks (NASDAQ:MITL) for $1.96B in cash and stock; based on yesterday’s close, the deal values PLCM at $12/share, but it valued the company at $13.44/share when the deal was first announced.
Thu, May 5, 6:31 AM
Wed, May 4, 5:30 PM
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Mon, Apr. 18, 6:23 PM
- Polycom (NASDAQ:PLCM) says Betsy Atkins has resigned from the board to pursue other opportunities, including service on the board of Volvo.
- She's "highly supportive" of Polycom's recent agreement to be acquired by Mitel (NASDAQ:MITL), she says.
- Since the deal's announcement premarket Friday, Polycom moved up 8.8% before the regular session but actually closed down 2% that day, and fell another 1% today.
- Mitel, meanwhile, slid 9.6% Friday in the wake of the announcement, and fell another 0.7% today, and shares are down 1.3% after hours.
- Now read Mitel, Polycom: Don't Buy The Merger Yet »
Fri, Apr. 15, 9:13 AM
Fri, Apr. 15, 6:37 AM
- Mitel Networks (NASDAQ:MITL) has agreed to buy Polycom (NASDAQ:PLCM), a provider of communications networks, software and other products, for approximately $1.96B.
- Under terms of the agreement, Polycom stockholders will be entitled to $3.12 in cash and 1.31 Mitel shares for each PLCM common stock they own.
- The combined company will be headquartered in Ottawa, Canada, and will maintain Polycom's strong global brand while operating under the Mitel name.
- PLCM +8.8% premarket
Wed, Mar. 16, 8:16 AM
- Mitel Networks (NASDAQ:MITL) is in talks to merge with Polycom (NASDAQ:PLCM), in a deal that would combine the Canadian and American voice and telephony equipment providers.
- The talks remain fluid and the final structure is still being worked out, according to Reuters.
- Activist investor Elliott Management has been calling for the two firms to merge since October, when the hedge fund disclosed a 6.6% stake in Polycom and a 9.6% stake in Mitel.
Thu, Feb. 25, 6:31 AM
- Mitel Networks (NASDAQ:MITL): Q4 EPS of $0.29 beats by $0.01.
- Revenue of $335.7M (+11.4% Y/Y) beats by $3.27M.