Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, November 15, 2013

Article Excerpt

AASTRA TECHNOLOGIES, $36.16, symbol AAH on Toronto, jumped over 29% this week after the company said it has agreed to a friendly takeover offer from Mitel Networks (symbol MNW on Toronto). Mitel is offering $6.52 U.S. in cash and 3.6 Mitel common shares for each share of Aastra. Based on today’s price for Mitel stock, the offer is worth $37.16 per Aastra share. Aastra develops and markets products and systems for accessing communication networks, including the Internet. Its technology is centred around business telephone systems and includes products that integrate land lines and mobile phones. Mitel operates in the same market as Aastra. It sells hardware, but it is now focusing more on software, including call centre and video conferencing products. The company is increasingly moving from selling software installed at its customers’ offices to a cloud model, where its products are stored on its servers and sold on a subscription basis. Aastra shareholders will own 43% of the combined company,…