Mitel to spend US$430M net to acquire Shoretel in second try

Give Mitel CEO Rich McBee credit for patience.
Nearly three years ago he made a play for California-based rival ShoreTel but withdrew Mitel’s $8.50-per-share offer when ShoreTel’s directors demanded more.
Thursday morning he revealed ShoreTel had agreed to be acquired for $7.50 per share (all figures U.S.)
This time around ShoreTel’s directors are all on board. In all, Mitel will pay $530 million for ShoreTel’s equity. Minus ShoreTel’s cash and some other items, tha