ShoreTel To Review Mitel Bid

(RTTNews) - ShoreTel, Inc. (SHOR) confirmed Monday that it has received an unsolicited proposal from Mitel Networks Corp. (MITL) to acquire all of the outstanding shares of the company for $8.10 per share in cash.

ShoreTel said its board of directors, in consultation with its financial and legal advisors, will carefully review and evaluate the proposal and determine the course of action that it believes is in the best interest of its shareholders. ShoreTel advised its shareholders not to take any action at this time pending the review.

ShoreTel also said it will release the first quarter financial results following the close of the market on Thursday, October 23, as previously announced.