July 27, 2017 / 10:58 AM / in 2 months

BRIEF-Mitel announces definitive agreement to acquire Shoretel

July 27 (Reuters) - Mitel Networks Corp

* Mitel announces definitive agreement to acquire Shoretel

* Mitel Networks Corp - deal for ‍$7.50 per share​

* Mitel announces definitive agreement to acquire shoretel

* Mitel Networks Corp - deal for ‍total equity value of approximately $530 million and a total enterprise value of approximately $430 million.​

* Deal expected to be accretive in first year

* Mitel Networks Corp - deal expected to be accretive in first year

* Mitel Networks Corp - ‍combined company will be headquartered in ottawa, canada, and will operate as Mitel​

* Mitel Networks Corp - ‍rich Mcbee, Mitel’s chief executive officer, will lead combined organization​

* Mitel networks -transaction will be completed through a cash tender offer for all of outstanding shares of Shoretel common stock, followed by a merger

* Mitel Networks Corp - ‍steve Spooner, Mitel’s chief financial officer, will also continue in that role​

* Mitel - ‍Mitel intends to finance consideration for deal and associated transaction expenses using cash on hand from combined business among others​

* Mitel networks -Ea Markets Llc provided co with independent advisory & transaction services in conjunction with arrangement & structuring of new financing Source text for Eikon: Further company coverage:

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