Canadian telecom services provider Mitel Networks Corp (MNW.TO) (MITL.O) said on Monday it has withdrawn its bid to buy smaller U.S. peer ShoreTel Inc (SHOR.O), after ShoreTel refused to engage in any talks regarding a potential transaction.
Earlier this month, Mitel had raised its bid for ShoreTel by some $34 million to about $574 million, in an attempt to spur ShoreTel into discussions.
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