Mitel to buy Polycom for $1.96 bln following Elliott pressure: Reuters

Ottawa-based Mitel Networks Corp said it would acquire fellow voice and telephony gear maker Polycom Inc for about US$1.96 billion in cash and stock, satisfying a demand from U.S. hedge fund Elliott Management, Reuters reported. The combined company will have its headquarters in Canada and will operate under the Mitel name while retaining the Polycom brand.

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