Canadian telecommunications provider Mitel Networks Corp raised its offer for smaller U.S. peer ShoreTel Inc, after ShoreTel did not accept its earlier offer. Mitel raised its offer to $8.50 per share in cash and stock from its previous offer of $8.10 per share in cash, representing a 3.7 percent premium to ShoreTel's closing price on Friday.
Mitel Networks Corporation is a global provider of business communications and collaboration software and services. Shares of MITL traded higher by 0.51% or $0.05/share to $9.93. In the past year, the shares have traded as low as $6.50 and as high as $11.94. On average, 197302 shares of MITL exchange hands on a given day and today's volume is recorded at 192898.
Shares of MNW traded higher by 0.36% or $0.04/share to $11.30. In the past year, the shares have traded as low as $6.87 and as high as $13.00. On average, 66717 shares of MNW.TO exchange hands on a given day and today's volume is recorded at 78615.
ShoreTel, Inc. is a provider of business communication solutions. Shares of SHOR fell by 0.49% or $-0.04/share to $8.20. In the past year, the shares have traded as low as $5.73 and as high as $9.81. On average, 501774 shares of SHOR exchange hands on a given day and today's volume is recorded at 366340.
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