An investigation on behalf of investors of Mitel Networks Corporation (NASDAQ: MITL) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 06/27/2018 -- An investigation was announced concerning whether the takeover of Mitel Networks Corporation is unfair to NASDAQ: MITL stockholders.
Investors who purchased shares of Mitel Networks Corporation (NASDAQ: MITL) and currently hold any of those NASDAQ: MITL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Mitel Networks Corporation breached their fiduciary duties owed to NASDAQ: MITL investors in connection with the proposed acquisition.
Canada based Mitel Networks Corporation provides cloud and on-site business communications and collaboration software, services, and solutions. It operates in two segments, Enterprise and Cloud
On April 24, 2018, the Board caused Mitel Networks Corporation to enter into an agreement (the "Arrangement Agreement") with Searchlight. Pursuant to the terms of the Arrangement Agreement, shareholders of Mitel will receive $11.15 in cash for each share of Mitel Networks Corporation common stock.
On May 14, 2018, Mitel Networks Corporation filed a preliminary proxy statement ("Proxy Statement") with the United States Securities and Exchange Commission ("SEC") in connection with the Proposed Transaction, which recommends that Mitel's shareholders vote in favor of the Proposed Transaction.
However, given that at least one analyst has set the high target price for NASDAQ: MITL shares at $15.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: MITL stockholders. More specifically, the investigation concerns whether the Mitel Networks 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.
Shares of Mitel Networks Corporation (NASDAQ: MITL) closed on June 25, 2018, at $10.97 per share.
Those who are current investors in Mitel Networks Corporation (NASDAQ: MITL) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com