Plantronics, Inc.

NYSE:POLY   3:59:59 PM EDT
+0.30 (+0.76%)
Other Pre-Announcement

HP To Acquire Poly

Published: 03/28/2022 11:53 GMT
Plantronics, Inc. (POLY) - Hp Inc. to Acquire Poly.
Hp Inc. to Acquire Poly.
Hp Inc - Deal for Total Enterprise Value of $3.3 Billion, Inclusive of Poly's Net Debt.
Hp Inc - Deal for All-cash Transaction for $40 per Share.
Hp Inc - Expects Transaction to Be Immediately Accretive to Hp's Revenue Growth, Margins, and Non-GAAP EPS at Close.
Hp Inc - Expects to Realize Substantial Revenue Synergies in Peripherals As Well As Meeting Room and Workforce Solutions.
Hp Inc - Expects to Achieve $500 Million of Revenue Synergies by FY25.
Hp Inc - Expects Transaction to Improve Poly's Operating Margins by Approximately Six Percentage Points From Current Levels by FY25.
Hp Inc - Expects to Accelerate Poly's Revenue Growth to an Approximately 15% Cagr Over First Three Years After Closing.
Hp Inc - Will Finance Transaction Through a Combination of Balance Sheet Cash and New Debt.
Hp Inc - Remains Committed to Aggressively Buying Back Shares of at Least $4 Billion in FY22.
Hp Inc - Transaction is Consistent With Hp's Capital Returns Program Target.