There is a higher bid for Inter-Tel than what Mitel initially offered to pay. The bid is being led by Steve Mihaylo who is a major shareholder of Inter-Tel and the former founder. Rumor has it Steve who has been a keynote speaker at a prior Internet Telephony Conference & Expo has board members who can help direct the sale of the company back into his control.
Mihaylo had a former offer for the company rejected as you may recall.
Being part of the Terry Matthews family of companies has tremendous advantages which are hard to compare with any competing offer in my opinion. This means the Mihaylo offer would likely have to be substantially higher than Mitel’s highest bid to be successful.