Mitel Ups The Offer For Shoretel To 574 Million

Mitel, Shoretel takeover bid.

After being rejected by Shoretel on Mitel's  initial offer of $8.10 to $8.50 a share which sends the offer to $574 Million.

“We continue to believe that the combination of our two companies offers a compelling opportunity to add sustained value to both organizations, and would solidify our combined leadership position in a highly competitive and rapidly consolidating market,” 

said Richard McBee, chief executive officer of Kanata, Ontario-based Mitel, in a letter to ShoreTel’s board today.
Bloomberg