Canadian telecom services provider Mitel Networks Corp said on Monday it has withdrawn its bid to purchase smaller U.S. peer ShoreTel Inc , after ShoreTel refused to engage in any talks regarding a potential transaction.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.
Mitel Networks Corporation is a global provider of business communications and collaboration software and services. Shares of MITL remained unchanged at $10.12. In the past year, the shares have traded as low as $7.75 and as high as $11.94. On average, 193169 shares of MITL exchange hands on a given day and today's volume is recorded at 0.
Shares of MNW traded higher by 0.62% or $0.07/share to $11.42. In the past year, the shares have traded as low as $8.34 and as high as $13.00. On average, 64066 shares of MNW.TO exchange hands on a given day and today's volume is recorded at 40392.
ShoreTel, Inc. is a provider of business communication solutions. Shares of SHOR remained unchanged at $8.21. In the past year, the shares have traded as low as $5.73 and as high as $9.81. On average, 481928 shares of SHOR exchange hands on a given day and today's volume is recorded at 0.
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