Mitel withdraws its $574 million bid for ShoreTel
TORONTO (Reuters) - Canadian telecom services provider Mitel Networks Corp (Toronto:MNW.TO - News) (NasdaqGS:MITL - News) said on Monday it has withdrawn its bid to buy smaller U.S. peer ShoreTel Inc (NasdaqGS:SHOR - News), after ShoreTel refused to engage in any talks regarding a potential transaction.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.
(Reporting by Euan Rocha; Editing by Bernadette Baum)