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SHOR - Shoretel Inc News Story

$7.5 0.0  0.0%

Last Trade - 22/09/17

Sector
Technology
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £274.1m
Position in Universe th / 6395

BRIEF-Mitel announces definitive agreement to acquire Shoretel

Thu 27th July, 2017 11:30am
July 27 (Reuters) - Mitel Networks Corp  MNW.TO  
    * Mitel announces definitive agreement to acquire Shoretel 
    * Mitel Networks Corp - deal for $7.50 per share 
    * Mitel announces definitive agreement to acquire shoretel 
    * Mitel Networks Corp - deal for total equity value of 
approximately $530 million and a total enterprise value of 
approximately $430 million. 
    * Deal expected to be accretive in first year 
    * Mitel Networks Corp - deal expected to be accretive in 
first year 
    * Mitel Networks Corp - combined company will be 
headquartered in ottawa, canada, and will operate as Mitel 
    * Mitel Networks Corp - rich Mcbee, Mitel's chief executive 
officer, will lead combined organization 
    * Mitel networks -transaction will be completed through a 
cash tender offer for all of outstanding shares of Shoretel 
common stock, followed by a merger 
    * Mitel Networks Corp - steve Spooner, Mitel's chief 
financial officer, will also continue in that role 
    * Mitel - Mitel intends to finance consideration for deal 
and associated transaction expenses using cash on hand from 
combined business among others 
    * Mitel networks -Ea Markets Llc provided co with 
independent advisory & transaction services in conjunction with 
arrangement & structuring of new financing 
 
Source text for Eikon:  ID:nGNXOCQLUa  
Further company coverage:  MNW.TO  
 
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