An investigation on behalf of investors of Polycom Inc (NASDAQ:PLCM) in connection with the proposed takeover was announced and NASDAQ:PLCM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/27/2016 -- The acquisition of Polycom Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors in NASDAQ:PLCM shares concerning whether the takeover of Polycom Inc. by Mitel Networks Corporation is unfair.
Investors who purchased shares of Polycom Inc (NASDAQ:PLCM) and currently hold any of those NASDAQ:PLCM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Polycom Inc breached their fiduciary duties owed to NASDAQ:PLCM investors in connection with the proposed acquisition.
On April 15, 2016 Mitel Networks Corporation and Polycom Inc (NASDAQ:PLCM) announced that they have entered into a merger agreement in which Mitel Networks Corporation will acquire all of the outstanding shares of Polycom Inc common stock in a cash and stock transaction valued at approximately $1.96 billion. Under the terms of the agreement, Polycom Inc stockholders will be entitled to $3.12 in cash and 1.31 Mitel Networks Corporation common shares for each share of Polycom common stock, or $13.68 based on the closing price of a Mitel Networks Corporation common share on April 13, 2016.
However, given that at least one analyst has set the high target price for NASDAQ:PLCM shares at $15.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:PLCM stockholders. More specifically, the investigation concerns whether the Polycom Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On April 25, 2016 NASDAQ:PLCM shares closed at $12.08 per share.
Those who are current investors in Polycom Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com