Edition:
United States

Plantronics To Acquire Polycom For $2 Billion


Wednesday, 28 Mar 2018 07:00am EDT 

March 28 (Reuters) - Plantronics Inc ::PLANTRONICS TO ACQUIRE POLYCOM FOR $2 BILLION.PLANTRONICS INC - ‍TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES​.PLANTRONICS INC - ‍DEAL EXPECTED TO BE IMMEDIATELY ACCRETIVE TO NON-GAAP EPS​.PLANTRONICS INC - EXPECT $75 MILLION IN ANNUAL RUN-RATE COST SYNERGIES WITHIN 12 MONTHS OF TRANSACTION CLOSE.PLANTRONICS INC - ‍ PLANTRONICS WILL ACQUIRE POLYCOM IN CASH, STOCK TRANSACTION VALUED AT $2.0 BILLION ENTERPRISE VALUE​.PLANTRONICS INC - ENTERPRISE VALUE CONSISTING OF ESTIMATED $690 MILLION OF NET DEBT, ESTIMATED $948 MILLION IN CASH AND 6.352 MILLION PLANTRONICS SHARES.PLANTRONICS - ‍INTENDS TO FUND CASH PORTION OF DEAL CONSIDERATION WITH CASH ON HAND AND APPROXIMATELY $1.375 BILLION IN NEW, FULLY-COMMITTED DEBT FINANCING​.PLANTRONICS - EFFECTIVE APRIL 1, ROBERT HAGERTY TO ASSUME ROLE OF CHAIRMAN, MARV TSEU TOASSUME ROLE OF VICE-CHAIRMAN OF PLANTRONICS BOARD.PLANTRONICS - ‍REAFFIRMING ITS FINANCIAL OUTLOOK PREVIOUSLY ANNOUNCED IN ITS THIRD FISCAL QUARTER 2018 EARNINGS PRESS RELEASE DATED JANUARY 30, 2018​. 

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