July 27, 2017 / 4:28 PM / in 4 months

BUZZ-ShoreTel Inc: To be bought by Canada's Mitel

** Telecom service provider’s shares up 27.8 pct at $7.48 - stock trading at highest level in 6 months

** Canadian peer Mitel Networks Corp to buy SHOR in all-cash deal for ~$530 mln

** Mitel’s $7.50/shr offer is a 28.2 pct premium to ShoreTel’s Wednesday close

** Combined company will be headquartered in Canada with sales of $1.3 bln

** Mitel had previously made a $574 mln bid for ShoreTel in 2014, but withdrew it after SHOR refused to engage in deal talks

** ShoreTel had been evaluating strategic alternatives, including a sale, since August 2016

** More than 30 mln shares traded, 90.3x 30-day moving avg

** Up to Wednesday’s close, SHOR stock had fallen 22.1 pct in the last 12 months

** Mitel’s U.S.-listed shares were up 4.8 pct at $7.86

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