UPDATE 4-Elliott urges Polycom-Mitel merger after disclosing stakes

Thu Oct 8, 2015 2:14pm EDT
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* Elliott discloses 6.6 pct stake in Polycom; 9.6 pct in Mitel

* Says has stake in ShoreTel

* Polycom's shares up 16.3 pct; ShoreTel up 4.3 pct

* Mitel's U.S.-listed stock up 17 pct (Adds Polycom's response; updates shares)

By Abhirup Roy

Oct 8 (Reuters) - Activist hedge fund Elliott Management Corp disclosed stakes in U.S. video-conferencing equipment maker Polycom Inc and Canadian telecoms provider Mitel Networks Corp and pushed for a combination of the two.

Polycom's shares were up about 16 percent at $13.27 in afternoon trading on Thursday, while Mitel's U.S.-listed stock were up 17 percent at $8.22. Mitel's Toronto-listed shares were up 16 percent at C$10.66.

"Polycom must initiate a comprehensive review of all strategic options, and the time for that review is now," Elliott said in a letter to the company's board.

Elliott said it would be willing to provide financing for Polycom's acquisitions.   Continued...