Officials with the video conferencing vendor say they will consider the private equity firm’s revised offer, which could be superior to Mitel’s.
Mitel’s plan to buy video conferencing vendor Polycom for $1.96 billion just got a little more complicated.
In a filing with the Securities and Exchange Commission (SEC) May 23, Polycom officials said the company has received a revised offer from an unnamed private equity firm that could be “superior” to Mitel’s bid.
In the Form 8-K filing, Polycom officials noted that on May 13, Mitel filed a document with the SEC noting that the private equity firm had a made an offer for Polycom. Since then, a revised offer had come in from the firm—referred to in the filing as “Sponsor 1″—that “could reasonably be expected to lead to a ‘Company Superior Proposal’ as defined in Polycom’s merger agreement with Mitel.”