Tag Archive for: ShoreTel

Mitel drops ShoreTel bid

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Customers of ShoreTel phones and unified communications gear can stop worrying that their lives might get complicated by a merger between the company and its rival Mitel.

Mitel has taken a $ 575 million offer for ShoreTel off the table stating the refusal of ShoreTel’s board to talk about the offer.

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“The decision to terminate the proposal early was made in light of the repeated refusal of ShoreTel’s Board of Directors to engage in discussions of any kind regarding a potential transaction,” Mitel says in a press release. The offer represented more than 24% more than what ShoreTel’s stock was worth.

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Network World Tim Greene

Mitel takes aim at Avaya with ShoreTel bid

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Anyone thinking about signing a deal with ShoreTel for unified communications gear might want to take a closer look now that Mitel has made public its hopes to buy the company.

Mitel says it’s prepared to pay 24% over the price last Friday of ShoreTel stock (about $ 540 million), but ShoreTel says no and won’t negotiate, according to a letter Mitel’s CEO wrote to the chairman of ShoreTel. Despite the rebuff, Mitel plans to persist and that means ShoreTel customers should be vigilant.

At the very least, businesses weighing whether to buy ShoreTel gear should find out the likely impact of a merger, says Ken Landoline, a principal analyst with Current Analysis. “Beat up your channel about what does this mean for me?” he says.

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Network World Tim Greene