Mitel and Polycom are to hold shareholder meetings to approve the proposed acquisition on July 29th.
Mitel and Polycom also announced that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of Mitel's proposed acquisition of Polycom.
Receipt of CFIUS approval follows previous regulatory acceptance including the early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The transaction is expected to close in August subject to the approval of the transaction by Mitel shareholders and Polycom stockholders and the satisfaction of the remaining customary closing conditions.
The combination of Mitel and Polycom will create a business with approximately 7,700 employees.