Polycom Announces $115M Accelerated Share Buyback Program
Polycom (Nasdaq: PLCM) today
announced plans to repurchase an aggregate of $115 million of common
stock through an accelerated share repurchase (ASR) program. The Company
has entered into separate ASR agreements with JPMorgan Chase Bank, N.A.
and Barclays PLC. Today's announcement represents the concluding phase
of Polycom's $400 million Return of Capital program announced on
September 11, 2013.
Under the terms of the ASR transactions, Polycom has agreed to
repurchase a combined $115 million of its common stock with an initial
delivery of approximately 8.0 million shares. The final number of shares
to be repurchased will