Mitel's investors endorse $400 mln buy of Aastra Technologies
The shareholders of Ottawa-based cloud and communications software solutions provider Mitel Networks Corp (TSX:MNW) (Nasdaq:MITL) have given official approval of the company's previously-announced $400 million buy of Aastra Technologies Ltd (TSX:AAH), an enterprise communications company based in Concord, Ontario. TSX and NASDAQ have accepted the written consents of U.S. private equity firm Francisco Partners and Dr. Terence Matthews, the controllers of around 60% of Mitel's shares, as evidence of investor approval. Mitel also obtained the consent of Kanata Research Park Corp and Arsenal. The merger must be approved by Aastra shareholders at a special meeting expected to take place in January 2014. Update: Osler, Hoskin & Harcourt LLP is acting for Mitel in the transaction.
