Polycom accepts 90% of SpectraLink shares, extends tender offer to March 23

By Lisa Kerner

Charlotte, N.C., March 21 - Polycom, Inc.'s tender offer by its wholly owned subsidiary, Spyglass Acquisition Corp., for all outstanding shares of SpectraLink Corp. for $11.75 per share expired on March 20.

Shareholders tendered 17,729,176, or 90%, of SpectraLink's issued and outstanding shares, and all tendered shares were accepted for payment, according to a company news release.

Spyglass Acquisition began a three-day subsequent offering period, which expires at midnight on March 23, for all remaining SpectraLink shares at the same $11.75-per-share offer price.

The $220 million acquisition of SpectraLink was announced on Feb. 20.

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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