Polycom accepts 90.6% of SpectraLink shares in subsequent offering to complete merger

By Lisa Kerner

Charlotte, N.C., March 26 - Polycom, Inc.'s wholly owned subsidiary Spyglass Acquisition Corp. accepted for payment 17,842,695 shares, or about 90.6%, of the outstanding shares of SpectraLink Corp. at $11.75 per share in the subsequent offering period ended March 23, according to an 8-K filing with the Securities and Exchange Commission.

As a result, Polycom will merge with and into SpectraLink, with SpectraLink continuing as the surviving corporation. The $220 million acquisition of SpectraLink was announced on Feb. 20.

During the original tender offer ended March 20, 17,729,176, or 90.0%, of SpectraLink's shares were accepted for payment, the company said.

Boulder, Colo.-based SpectraLink provides mobile voice and messaging applications.

Polycom is a Pleasanton, Calif.-based provider of collaborative communication applications.

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