Avaya Shareholders Approve Private Equity Buyout

3:24 pm on October 1, 2007 | Category: Business, Corporate

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Avaya Inc. shareholders voted late last week to approve an $8.2 billion buyout offer, which will put the telecom equipment giant into the hands of private equity firms, Silver Lake Partners and TPG.

Current Avaya shareholders will receive $17.50 per share when the deal is finalized later this month.

Shares in the Basking Ridge, NJ-based company have surged more than 25% since news of a possible buyout leaked out in late May.

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