Avaya goes private in $8.2 billion deal

Avaya is the latest telecom company to go private.

Private-equity firms Silver Lake Partners and TPG Capital will buy Avaya for $8.2 billion, or $17.50 per share. The offer represents a 28% premium over Avaya's closing price on May 25, when rumors that Avaya was a takeover target started to circulate.

Shares of Avaya rose 38 cents, or 2.3%, to $17.10 in morning trading.

"The deal reflects how competitive the private-equity market is," Tavis McCourt, an analyst at Morgan Keegan, told The Wall Street Journal. Nortel Networks was reportedly in talks with Avaya in past weeks, and Cisco Systems was said to be another company interested in Avaya.

Read Full Article from MSN Money

- Posted: 2007-06-05 10:24:53

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