Thursday, September 27, 2007

Avaya Stockholders Approve Acquisition by Silver Lake, TPG

Avaya stockholders voted to adopt the merger agreement providing for the acquisition of Avaya by affiliates of Silver Lake Partners and TPG, two private equity firms.

Avaya also announced that all regulatory approvals required to complete the transaction have been obtained, including the receipt of clearance from the European Commission.

  • In June 2007, Avaya accepted an $8.2 billion buyout offer, or $17.50 per common share, from Silver Lake and TPG Capital, both private equity firms. The price represented a premium of approximately 33 percent over Avaya's average closing share price of $13.17 during the 30 trading days ending May 25, 2007.

See also