Searchlight Captial

Mitel Shareholders Approve Acquisition of Mitel By Affiliates of Searchlight Capital Partners

OTTAWA – Mitel® (Nasdaq:MITL) (TSX:MNW), a global leader in business communications, today announced that its shareholders approved the acquisition of Mitel by an investor group led by affiliates of Searchlight Capital Partners, L.P at the special meeting of Mitel shareholders held today.  Approximately 97.5% of the shares voted at the meeting were cast in favor of the resolution to approve the arrangement.  Additional details regarding the voting results from the meeting will be filed on SEDAR and EDGAR.

Upon closing of the arrangement, Mitel shareholders will receive $11.15 per common share in cash, less any applicable withholding taxes.

The arrangement is expected to close during the second half of 2018, subject to remaining customary closing conditions, including the receipt of certain regulatory approvals and Canadian court approval.  Prior to today’s vote, the conditions to the arrangement relating to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the Competition Act (Canada) and relating to notification to and approval of The Federal Antimonopoly Service of the Russian Federation were satisfied.  Further information about the arrangement is set forth in the materials prepared by Mitel in respect of the special meeting, which are available under Mitel’s profile on SEDAR at www.sedar.com and EDGAR at www.sec.gov. 

About Mitel

A global market leader in business communications powering more than two billion business connections, Mitel (Nasdaq:MITL) (TSX:MNW) helps businesses and service providers connect, collaborate and provide innovative services to their customers. Our innovation and communications experts serve more than 70 million business users in more than 100 countries. For more information, go to www.mitel.com and follow us on Twitter @Mitel.

Mitel is the registered trademark of Mitel Networks Corporation. All other trademarks are the property of their respective owners.


Searchlight Capital Partners UK, LLP is registered with the Financial Conduct Authority (FCA)
for its activities in the UK and EU.