Polycom Commences Tender Offer To Purchase Up To $250 Mln. Of Its Common Stock

(RTTNews) - Polycom Inc. (PLCM) said Friday it has commenced a modified "Dutch Auction" cash tender offer to purchase up to $250 million of its common stock at a price range that is not greater than $11.50 nor less than $10.00 per share.

The number of shares proposed to be purchased in the tender offer (at the minimum purchase price of $10.00 per share) represents about 14.7 percent of the company's outstanding common stock as of September 9.

The tender offer will expire on October 30, 2013, unless extended.

A modified "Dutch Auction" tender offer allows stockholders to indicate how many shares and at what price they wish to tender their shares within the specified share price range.

All shares that are purchased in the tender offer will be purchased at the same purchase price, including shares that are tendered at a lower price.

San Jose, California-based Polycom provides standards-based unified communications and collaboration solutions for voice and video collaboration.