Mitel withdraws its $574 million bid for ShoreTel

By Reuters

Nov 17, 2014 09:22 AM EST

Canadian telecom services provider Mitel Networks Corp (MNW.TO) (MITL.O) said on Monday it has withdrawn its bid to buy smaller U.S. peer ShoreTel Inc (SHOR.O), after ShoreTel refused to engage in any talks regarding a potential transaction.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.

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics