BUZZ-Polycom rises on report Mitel deal possible as early as next week

Wed Apr 6, 2016 11:27am EDT
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** Video conferencing equipment maker Polycom Inc's shares up 6.9 pct at $11.59

** Mitel Networks Corp is in advanced merger talks to buy Polycom, Bloomberg reported late on Tuesday (

** Deal could come as early as next week - report

** Reuters, citing sources, reported earlier that Mitel had made an initial approach to buy Polycom

** Activist investor Elliott Management has been calling for the two companies to merge since October

** Elliott owned 6.6 pct of Polycom and 9.6 pct of Mitel as of Dec. 31 - Thomson Reuters data

** Up to Tuesday's close, Polycom stock had fallen nearly 14 pct this year, while Mitel's Toronto-listed shares lost 5 pct