Mitel offers $540 million for ShoreTel to expand in U.S

(Reuters) - Mitel Networks Corp, a provider of business communications services, offered to buy smaller U.S. peer ShoreTel Inc for about $540 million as part of efforts to expand in the United States. Kanata, Ontario-based Mitel's cash offer of $8.10 per share represents a 24 percent premium to ShoreTel stock's closing price on Friday. Sunnyvale, California-based ShoreTel's shares were up at $7.58 - just below the offer price - in early trading on Monday. Mitel's shares were up about 1 percent at C$9.61 on the Toronto Stock Exchange, its Nasdaq-listed shares were up 3 percent at $8.67. ...



via Tech News Headlines - Yahoo News http://ift.tt/1r0EQww