BUZZ-Polycom Inc: Activist hedge fund Elliott discloses stake

Thu Oct 8, 2015 10:59am EDT
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** Video conferencing equipment maker's shares up 11.8 pct at $12.79, hitting a 4-month high

** Hedge fund Elliott Management Corp discloses a 6.6 pct stake in Polycom, and urges company to undertake strategic review

** Elliott asks company to consider a merger; says the best fit would be Canadian telecommunications provider Mitel Networks Corp

** Mitel's U.S.-listed shares up 17 pct at $10.75

** Elliott also says it owns a stake in U.S. telecommunications provider ShoreTel Inc

** ShoreTel up 3.3 pct at $8.1

** Polycom is the biggest percentage gainer on Dow Jones U.S. Telecommunications Equipment Index

** Up to Wednesday's close, Polycom stock had fallen nearly 15 pct this year