Mitel withdraws its $574 million bid for ShoreTel
By Reuters
Nov 17, 2014 09:22 AM EST
Regions
This is the corporate logo of Mitel Networks Corp. (Photo : Reuters)
Canadian telecom services provider Mitel Networks Corp (MNW.TO) (MITL.O) said on Monday it has withdrawn its bid to buy smaller U.S. peer ShoreTel Inc (SHOR.O), after ShoreTel refused to engage in any talks regarding a potential transaction.
Earlier this month, Mitel had raised its bid for ShoreTel by some $34 million to about $574 million, in an attempt to spur ShoreTel into discussions.
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