Sept 29 (Reuters) - Activist hedge fund Elliott Management said it picked up an 8.1 percent stake in electronics hardware supplier Mentor Graphics Corp, a few months after Carl Icahn exited the company.
The company’s shares rose as much as 6.5 percent to $26.30 in after-market trading on Thursday.
Elliott, founded by billionaire Paul Singer, said Mentor Graphics’ shares were undervalued and that it was in talks with the company’s board.
Mentor Graphics shares should be valued at $29.07, according to StarMine data. They had risen about 34 percent this year through Thursday’s close. (Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)