BRIEF-Mitel says Polycom to pay $60 mln as deal termination fee

Fri Jul 8, 2016 7:18am EDT
 
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July 8 (Reuters) - Mitel Networks Corp

* Says received notice from Polycom of a superior proposal from a third party

* Polycom will terminate merger agreement and pay Mitel $60 million termination fee concurrently with termination

* Mitel responds to notification from Polycom of superior proposal

* Waives right to match consideration payable to Polycom stockholders

* Says Polycom has indicated that it will promptly terminate merger agreement

* Says Polycom will pay Mitel $60 million termination fee concurrently with termination Source text for Eikon: Further company coverage: