An investigation on behalf of investors of ShoreTel Inc (NASDAQ:SHOR) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 08/11/2017 -- An investigation was announced for investors, who currently hold NASDAQ:SHOR shares concerning whether the takeover of ShoreTel Inc. by Mitel is unfair.
Investors who purchased shares of ShoreTel Inc (NASDAQ:SHOR) and currently hold any of those NASDAQ:SHOR shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of ShoreTel Inc breached their fiduciary duties owed to NASDAQ:SHOR investors in connection with the proposed acquisition.
On July 27, 2017, Mitel (Nasdaq:MITL) (TSX:MNW) and ShoreTel (Nasdaq:SHOR) announced that they have entered into a merger agreement pursuant to which Mitel will acquire 100% of the outstanding shares of ShoreTel common stock in an all-cash transaction at a price of $7.50 per share.
However, given that at least one analyst has set the high target price for NASDAQ:SHOR shares at $8.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:SHOR stockholders. More specifically, the investigation concerns whether the ShoreTel Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On August 10, 2017, ShoreTel Inc (NASDAQ:SHOR) shares closed at $7.50 per share.
Those who are current investors in ShoreTel Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego