Stock Pickers Digest, in the August, 2016, issue, says hold Mitel Networks Corp., recently $9.03. Stock Pickers said buy four times from June, 2014, to March, 2016, at prices ranging from $9.69 to $12.03. A $1,000 investment for each of the four buys is now worth $3,268. Mitel, which makes products to support business communications, has seen its stock rise from about $7.80 since it announced on July 8 that it will no longer acquire Polycom. Mitel had offered $1.76-billion (U.S.) for Polycom in June, months after activist investor Elliott Management, which owns shares of both companies -- 9.6 per cent of Mitel and 6.6 per cent of Polycom -- began pushing for a merger. Although Polycom initially accepted Mitel's offer, it changed its mind after receiving a $2-billion (U.S.) offer from the private equity firm Siris Capital. Mitel decided against raising its offer and instead walked away. As a result, Polycom must pay Mitel a break fee of $60-million. To put that in perspective, Mitel earned $7.3-million in the first quarter of 2016. Stock Pickers says Polycom would have been a good fit for Mitel, but now the company is free to hunt for other acquisitions. All acquisitions, however, add an element of risk. Mitel is a hold.