Tue, Sep. 27, 5:28 PM
- Coty (COTY +0.3%) is heading to the S&P 500, replacing Diamond Offshore Drilling (DO -0.4%) in that index. Diamond Offshore is off 1.3% after hours, while COTY is up 0.4%.
- Diamond Offshore will move to the S&P MidCap 400, replacing Polycom (NASDAQ:PLCM), which has been acquired by Siris Capital Group. The contract driller was ranked at the bottom of the 500 and now has a market cap more reflective of a mid-cap, S&P Dow Jones Indices says.
- The moves are effective after the close on Friday.
- Meanwhile, Tile Shop Holdings (TTS -0.3%) is replacing Epiq Systems (NASDAQ:EPIQ) in the SmallCap 600, as Omers Private Equity is acquiring Epiq in a deal expected to be completed soon.
Thu, Jul. 21, 4:07 PM
Wed, Jul. 20, 5:35 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.
Wed, Apr. 20, 4:15 PM
- Polycom (NASDAQ:PLCM): Q1 EPS of $0.19 in-line.
- Revenue of $290.1M (-12.3% Y/Y) misses by $11.3M.
Tue, Apr. 19, 5:35 PM| Tue, Apr. 19, 5:35 PM | 16 Comments
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, 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
Thu, Apr. 14, 9:25 AM
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.
Wed, Jan. 27, 11:13 AM
- Though Polycom (NASDAQ:PLCM) beat Q4 sales estimates and posted in-line EPS, the videoconferencing hardware/software provider guided on its earnings call (transcript) for Q1 revenue of $295M-$305M and EPS of $0.18-$0.20 (midpoints of $300M and $0.19) vs. a consensus of $302.5M and $0.20.
- Polycom attributed the outlook to seasonality, macro pressures (particularly in China, but also in Russia and the Middle East), product announcement timings, the "competitive landscape" for Polycom's Group Video business, and forex swings. In October, the company stated a Cisco videoconferencing product refresh weighed on Q3 sales.
- Shares made a fresh 52-week lot of $9.52 this morning before bouncing a little.
- Polycom's Q4 results, earnings release
Tue, Jan. 26, 4:07 PM
- Polycom (NASDAQ:PLCM): Q4 EPS of $0.23 in-line.
- Revenue of $316.8M (-9.2% Y/Y) beats by $2.08M.
Mon, Jan. 25, 5:35 PM