Polycom Reportedly In Talks to Go Private
PLEASANTON, Calif. (
) --
Polycom
(PLCM)
, a maker of videoconferencing equipment, has been in talks with private-equity group Apax Partners to be taken private.
A deal would value Polycom at more than $3 billion, reports the
Financial Times
.
Polycom and Apax have been in talks since November. Apax is working toward making a formal offer of $37 a share before the end of March.
Polycom shares rose 43 cents to $30.44 in the regular session on Tuesday.
The deal at Polycom's current price would represent a premium of about 22%.
People close to the situation told the
Financial Times
a deal could now prove unfeasible given the rise in Polycom's shares since the talks started.
Polycom is the only big independent provider of videoconferencing equipment since
Cisco
(CSCO) - Get Report
acquired Norway's
Tandberg
in December.
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