Polycom Announces $115M Accelerated Share Buyback Program

Polycom

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