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Exclusive: Mitel and Polycom in merger talks amid pressure from Elliott - sources
Canada's Mitel Networks Corp (MNW.TO) is in talks to merge with U.S. peer Polycom Inc (PLCM.O), in a deal that would combine the voice and telephony equipment providers and heed the demands of hedge fund Elliott Management, sources said on Tuesday.
Mitel, the smaller of the two companies with a $1.11 billion market value, made the initial approach to buy Polycom, according to sources familiar with the matter, but the talks remain fluid and the final structure is still being worked out.
Both companies declined to comment. The sources did not want to be identified because the deal discussions are private. As in any merger discussion, the talks could proceed to a deal or collapse at the last minute.
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