ShoreTel rejects PE-backed Mitel's revised bid: Reuters

U.S. telecommunications provider ShoreTel Inc rejected Canadian peer Mitel Networks Corp's higher bid, saying it "significantly undervalued" the company, Reuters reported. Mitel on Monday raised its offer to $8.50 per share in cash and stock, from $8.10 per share in cash. The revised offer valued ShoreTel at about $574 million.

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