Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, October 9, 2015

Article Excerpt

MITEL NETWORKS CORP., $10.56, symbol MNW on Toronto, jumped over 16% this week after activist investor Elliott Management Corp. released a letter yesterday disclosing stakes in Mitel and Polycom Inc. (symbol PLCM on Nasdaq). Elliott, founded by hedge-fund manager Paul Singer in 1977, is urging the two companies to merge to increase their combined profits in a very competitive market. Elliott now holds 6.6% of Polycom and 6.3% of Mitel. Mitel develops and markets products centred on business telephone systems, including technology that integrates land lines and mobile phones. The company also offers call centre and videoconferencing products. Polycom makes and develops business communication systems that combine data, video and voice in one product. It also makes telepresence technology, which lets users in different locations work together. Whatever the outcome, the activist investor’s involvement should draw attention to Mitel’s strong growth prospects. Mitel is still a buy. Mitel was recently covered in the September 2015 issue of Stock Pickers Digest. Click here to access it. Mitel was…