Mitel to buy Aastra in friendly deal to create bigger Canadian high-tech player
OTTAWA – Mitel Networks Corp. (TSX:MNW) will acquire Aastra Technologies Ltd. (TSX:AAH) in a stock and cash deal valued at about $400 million.
If approved, the friendly deal will result in Aastra shareholders owning about 43 per cent of an enlarged Mitel, to be headquartered in Ottawa.
Under the deal, Aastra shareholders will receive about $31.96 per common share, mostly in Mitel stock plus US$6.52 per share cash.
The two companies are active in different sectors of the telecommunications industry.
Aastra is based near Toronto in Concord, Ont. It primarily makes communications equipment for the business sector.
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