Industry Canada gives thumbs up to $400 mln Mitel-Aastra merger
Mitel Networks Corp (TSX:MNW) (Nasdaq:MITL) has received approval from Industry Canada to proceed with its previously-announced $400 million buy of Aastra Technologies Ltd (TSX:AAH), an enterprise communications company based in Concord, Ontario. The deal's approval under the Investment Canada Act is one of the final steps in its closing, which is expected to take place in early 2014, subject to the approval of Aastra shareholders and other conditions. Mitel, an Ottawa-based cloud and communications software solutions provider, is majority-owned by U.S. private equity firm Francisco Partners and Dr. Terence Matthews. Osler, Hoskin & Harcourt LLP is acting for Mitel in the transaction.
16 December 2013•4 mins read
