Mitel announces definitive agreement to acquire ShoreTel
MITEL NETWORKS (MITL)
Last mitel networks earnings: 2/22 06:30 am
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Source: GlobeNewswire
Accelerates Mitel’s path to growth Delivers attractive shareholder value with $60 million in expected synergiesMoves Mitel into a #2 position in UCaaS market Expected to be accretive in the first year OTTAWA and SUNNYVALE, Calif., July 27, 2017 (GLOBE NEWSWIRE) -- Mitel (Nasdaq:MITL) (TSX:MNW) and ShoreTel (Nasdaq:SHOR) today announced that they have entered into a definitive merger agreement pursuant to which Mitel will acquire 100% of the outstanding shares of ShoreTel common stock in an all-cash transaction at a price of $7.50 per share, or a total equity value of approximately $530 million and a total enterprise value of approximately $430 million. The purchase price represents a 28% premium to ShoreTel’s closing share price on July 26, 2017. Stronger together as a global market leader in the rapidly growing UCaaS market Continuing to deliver
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