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Mitel to Acquire Aastra for C$31.96 in Cash, Stock Deal

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Mitel Networks (NASDAQ: MITL) and Aastra Technologies Limited (OTC: AASTF) today announced that they have entered into a definitive arrangement agreement unanimously approved by the Boards of Directors of both companies, under which Mitel will acquire all of the outstanding Aastra common shares for US$6.52 in cash plus 3.6 Mitel common shares per each Aastra common share. Using the Mitel closing common share price on November 8, 2013, and a CAD/USD exchange rate of 0.9531, this amounts to CAD$31.96 per Aastra common share, a total value on closing to Aastra shareholders of CAD$392M and represents a 20.9% premium to the 30-day volume weighted average price (VWAP) of Aastra

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Posted-In: Earnings News Guidance Management M&A Global

 

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