May 23 (Reuters) - Video conferencing equipment maker
Polycom Inc PLCM.O said on Monday it received a revised
proposal from a private equity firm that could be "superior" to
Mitel Networks Corp's MNW.TO offer.
Polycom, which agreed to be bought by Canada's Mitel for
about $1.96 billion in April, said it intends to engage in
discussions with the private equity firm, idenfied as Sponsor 1.
Under the revised proposal, Polycom stockholders would
receive a cash dividend of $11 per share and the private equity
firm would purchase $650 million in shares of a new convertible
preferred stock of Polycom.