Mitel withdraws its $574 million bid for ShoreTel

Mon Nov 17, 2014 9:01am EST
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TORONTO (Reuters) - Canadian telecom services provider Mitel Networks Corp MNW.TO MITL.O said on Monday it has withdrawn its bid to buy smaller U.S. peer ShoreTel Inc SHOR.O, after ShoreTel refused to engage in any talks regarding a potential transaction.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)