“We’re growing the company by about 30 per cent overnight."
Three days short of the scheduled deadline, Ottawa-based Mitel has withdrawn its offer for all the outstanding shares of California-based ShoreTel.
With the clock ticking toward the Nov. 20 deadline, Mitel sweetened the pot Monday in its attempt to acquire California-based ShoreTel Inc.
Mitel announced third quarter results Thursday that beat its revenues and earning forecasts, and CEO Rich McBee credited his team for its strong execution of the company’s disciplined strategy.
Mitel Networks announced Monday it has offered to buy ShoreTel Inc. for about $540 million in cash but the proposal has been rejected by the California-based company's board.