Avaya is being taken over by two investment
companies for £4.3bn.
Silver Lake
and
Texas Pacific Group's TPG Capital have seen their takeover
approved by the Avaya board. The sum paid represents a 28% premium
over
Avaya’s share price on 25 May, the day before a takeover was
first mooted.
"In addition to delivering compelling value for our shareholders,
the partnership with Silver Lake and TPG also creates clear value
for Avaya employees and customers," said Louis J D'Ambrosio, Avaya
CEO.
"The investment in our people and technology and the operating
structure will enable us to extend our technology and services
leadership,” he said.
"Our interests are aligned with the long-term interests of
Avaya's customers and employees," said David Roux, co-founder and
managing director of Silver Lake. "We have full confidence in
Avaya's excellent management to build on the company's remarkable
technology and history, which spans more than a century.”
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Silver Lake
>>
Texas Pacific Group
>>
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