Siris Capital Offers About $1 Billion for PGi
11 Settembre 2015 - 12:50AM
Dow Jones News
Telecommunications provider Premiere Global Services Inc. has
received a roughly $1 billion buyout offer from private-equity firm
Siris Capital Group LLC.
Under the terms of the deal, subject to regulatory and
shareholders' approval, Siris would pay $14 for each share of PGi,
a 23% premium over Thursday's closing price.
Siris said it would finance the deal through debt.
Should PGi receive a higher offer during the 45-day "go shop"
period, Siris has the right to match the proposal.
Siris, based in New York City, was spun out in 2011 from
billionaire Steven A. Cohen's investment firm, SAC Capital Advisors
LP, which has since been renamed Point72.
Shares of the Atlanta company, up 7% this year, rose 22% to
$13.80 in late trading.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 10, 2015 18:35 ET (22:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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