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Utilities M&A image Utilities M&A » By The Online Investor Staff, updated Sun., Apr. 18, 4:38 AM Recent mergers and acquisitions in the Utilities M&A category.

Slide #91. Mitel Aastra Technologies Limited

Acquirer: Mitel (MITL)
Acquiree: Aastra Technologies Limited (AAH.CA)
Details: Mitel Networks Corporation (Nasdaq:MITL) (TSX:MNW), a leading provider of cloud and premises-based unified communications software solutions, and Aastra Technologies Limited (TSX:AAH), a leader in enterprise communications, 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 common shares as of November 8, 2013.

Mitel Networks is a provider of cloud and enterprise communications and collaboration solutions. Co.'s segments include: Cloud, which provides a range of private, public, hybrid and mobile Software as a Service solutions for businesses as well as cloud-based telephone and network services in the U.S.; and Enterprise, which provides a range of unified communications and collaboration solutions, which address and support the spectrum of technology specifications - from digital to IP to cloud to mobile, and from platforms to applications to end-user devices. Co.'s enterprise solutions include its virtualization capabilities and desktop and mobile applications.

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Mitel Networks is a provider of cloud and enterprise communications and collaboration solutions. Co.'s segments include: Cloud, which provides a range of private, public, hybrid and mobile Software as a Service solutions for businesses as well as cloud-based telephone and network services in the U.S.; and Enterprise, which provides a range of unified communications and collaboration solutions, which address and support the spectrum of technology specifications - from digital to IP to cloud to mobile, and from platforms to applications to end-user devices. Co.'s enterprise solutions include its virtualization capabilities and desktop and mobile applications.

Open the AAH.CA Page at The Online Investor »

Company Name: 
Mitel Networks Corp
Stock buyback: 
MITL buyback
Website: 
www.mitel.com
Sector: 
Communications Services
Company Name: 
Aastra Technologies Ltd.
Website: 
www.aastra.com
Sector: 
Communications Services
 

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