Avaya Inc., Silver Lake and TPG Capital today announced that Silver Lake and TPG Capital have completed the acquisi...
October 26, 2007
Avaya Inc., Silver Lake and TPG Capital today announced that Silver Lake and TPG Capital have completed the acquisition of Avaya in a transaction valued at approximately US$8.3 billion.
“Today marks the beginning of an exciting new era for Avaya,” said Lou D’Ambrosio, the firms president and CEO.
Under the terms of the merger agreement, which was adopted by Avaya’s stockholders at a special meeting held on Sept. 28, each is entitled to receive US$17.50 in cash, without interest and less any applicable withholding taxes, for each share of common stock they owned immediately prior to the effective time of the merger.
Avaya common stock ceased trading on the NYSE before the commencement of trading today and will be delisted from the NYSE.