On April 15, 2016, Mitel Networks Corporation and Polycom entered into a definitive merger agreement in which Mitel will acquire all of the outstanding shares of Polycom common stock in a cash and stock transaction valued at approximately $1.96 billion.
Mitel intends to finance the cash portion of the consideration for the acquisition, and the refinancing of its existing credit facilities and those of Polycom, using a combination of cash on hand from the combined business and proceeds from new financing and has received financing commitments from BofA and Merrill Lynch of approximately $1.085 billion in the aggregate.
Osler is representing Mitel with a team led by Jeremy Fraiberg (M&A) and Richard Borins (Banking and Financial Services) and including Alexander Gorka (M&A), Firoz Ahmed and Paul Seraganian (Tax), James Lurie, Andrew Herr, Matthew Sadofsky, Marta Rochkin and Nathan Whitaker (Banking and Financial Services).