Ottawa-based Mitel expects acquisition to expand its business by $14 billion by 2018
The Wall Street Journal
Byline: Angela Chen
Mitel Networks Corp. has agreed to buy telecommunications provider Mavenir Systems for approximately $560 million in cash and stock, in a bid to capitalize on the growing demand for 4G LTE services.
Mavenir shareholders will be offered either all-cash or all-stock exchange. They can receive either $11.08 a share in cash for each Mavenir share plus 0.675 of a Mitel share, or $17.94 in cash, which represents a 77% premium on the closing price of Mitel stock on Feb. 27.
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