Mitel raises offer for ShoreTel to $574 mln

(Reuters) - Canadian telecommunications provider Mitel Networks Corp raised its offer for smaller U.S. peer ShoreTel Inc, after ShoreTel did not accept its earlier offer. Mitel raised its offer to $8.50 per share in cash and stock from its previous offer of $8.10 per share in cash, representing a 3.7 percent premium to ShoreTel's closing price on Friday. The revised offer values ShoreTel at about $574 million, $34 million more than Mitel's earlier bid. The new offer comprises $8.10 per share in cash and 40 cents per share in Mitel common shares, or about 2.72 million shares. ...



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