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ShoreTel, Inc. (SHOR)

- NASDAQ
  • Nov. 17, 2014, 10:31 AM
    • Mitel (MITL +0.5%) has withdrawn its $540M ($8.10/share) offer to acquire ShoreTel (SHOR -8.6%), first announced on Oct. 20.
    • Mitel says its decision stems from "the repeated refusal of ShoreTel's Board of Directors to engage in discussions of any kind regarding a potential transaction." ShoreTel has fallen to $7.50 in response.
    | Nov. 17, 2014, 10:31 AM | Comment!
  • Oct. 20, 2014, 10:08 AM
    • Following a rejection from ShoreTel's (SHOR +16.1%) board, Mitel (MITL -1.2%) has gone public with an offer to buy the fellow VoIP/unified communications hardware and software provider for $540M, or $8.10/share, in cash. The price represents a 24% premium to ShoreTel's Friday close.
    • Mitel says its proposal will remain open until 5PM ET on Nov. 20.
    • ShoreTel currently trades at $7.50; its 52-week high is $9.81. With Mitel's market cap only at $936M, there could be some doubts about its ability to pull off a $510M all-cash acquisition. The company had $134.2M in cash at the end of June, and $342M in debt.
    | Oct. 20, 2014, 10:08 AM | Comment!
  • Feb. 1, 2012, 4:37 PM
    ShorTel (SHOR) reports FQ2 EPS of $0.03 vs. consensus loss of $0.01, and revenues +21.6% Y/Y to $58M vs. $55.7M consensus. FQ3 revenues guided downward. SHOR also agrees to acquire unified communications company M5 Networks in a $146M deal.
    | Feb. 1, 2012, 4:37 PM | Comment!
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Company Description
ShoreTel Inc along with its subsidiaries is engaged in providing business communication solutions, including; integrated voice, video, data and mobile applications based on Internet Protocol technologies.