April 24, 2018 / 3:17 PM / 7 months ago

BUZZ-Mitel Networks: Hits 3-1/2 year high on buyout deal

** U.S.-listed shares of telecommunications gear maker jump as much as 11.3 pct to hit over 3-1/2 year high of $11.31 on deal to sell itself for ~$2 bln

** Over 7.9 mln shares exchanged hands, stock among top 10 most actively traded U.S. stocks

** Investor group led by Searchlight Capital Partners to buy company for ~$1.34 bln excluding debt; shareholders to get $11.15 per MITL shr, a 10 pct premium to stock’s close on Mon

** Company has market value of ~$1.22 bln, per TR data

** Stock last up 10 pct, MITL up 36 pct this year (Reporting by Amy Caren Daniel in Bengaluru)

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