Market Overview

ShoreTel Confirms Receipt of Revised Bid from Mitel


ShoreTel® (NASDAQ: SHOR) (the
"Company"), the leading provider of brilliantly simple phone systems and
unified communications solutions, today confirmed that it has received a
revised, unsolicited proposal from Mitel Networks Corporation (NASDAQ: MITL)
("Mitel") to acquire all outstanding common shares of ShoreTel for $8.50 per
share, consisting of $8.10 per share in cash plus $0.40 per share in Mitel
common stock. 

Consistent with its fiduciary duties, ShoreTel's Board of Directors (the
"Board"), in consultation with its independent financial and legal advisors,
will carefully review and evaluate the revised proposal to determine the
course of action that it believes is in the best interest of the Company's
stockholders. ShoreTel advises stockholders not to take any action at this
time pending the review of the proposal by the Company's Board of Directors.

On October 27, 2014, the ShoreTel Board unanimously rejected Mitel's previous
unsolicited proposal to acquire all outstanding common shares of ShoreTel at a
price of $8.10 per share in cash, following careful consideration with the
assistance of its independent financial and legal advisors. The ShoreTel Board
concluded that the previous proposal significantly undervalued ShoreTel and
its strong prospects for continued growth and value creation, and was not in
the best interests of ShoreTel stockholders.

Blackstone Advisory Partners L.P. is serving as financial advisor and Fenwick
& West LLP is serving as legal counsel to ShoreTel.


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