Mitel raises bid for Shoretel

News Broadband Global 10 NOV 2014
Mitel raises bid for Shoretel
Mitel has raised its offer to acquire Shoretel to USD 574 million, after ShoreTel earlier rejected its bid of USD 540 million. Mitel is now offering USD 8.50 per share in cash and stock, compared to USD 8.10 cash per share previously. The new offer adds USD 0.40 per share in Mitel stock. The increased proposal represents a 31 percent premium to ShoreTel's stock price on 17 October, the day before the first offer was announced. The new bid was sent to ShoreTel's board of directors in a letter from Mitel's CEO, Richard McBee. The offer is open until 20 November. 

Categories:

Fixed

Companies:

Mitel,  ShoreTel

Regions:

Global

Tags:

Voice services, Enterprise equipment, M&A buyouts & divestments

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