Monday, August 20, 2007
After Mitel has been approved to merge with Inter-Tel Inc,Zarlink Semiconductor Inc. has unloaded its shares in Mitel Networks Corp.
Mitel paid Zarlink $1.29 per share, making the sale worth $12.9 million.
Zarlink (Ottawa) said it obtained 10 million common shares of Mitel through the sale of its Systems Business unit in 2001.
Zarlink said it will issue revised guidance for its second quarter soon as a result of the stock sale and its recent acquisition of Legerity Holdings Inc., a developer of communications chips.
By: DocMemory
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