Inter-Tel, Mitel on the Precipice

Inter-Tel today announced that the Delaware Court of Chancery has denied a shareholder motion to enjoin the acquisition of Inter-Tel by Mitel Networks Corporation. As a result of the Court’s decision, Inter-Tel and Mitel are free to move ahead with the merger. The expected close of the transaction is scheduled for tomorrow, August 16, 2007.

For more on the imminent close of this merger, check out this story.