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Avaya Takes the Money And Goes Private

Biz BriefsCommunications network developer Avaya Inc. in Basking Ridge agreed to be acquired for $8.2 billion by the investment firm Silver Lake in New York City and the private investment partnership TPG Capital in Fort Worth, Texas. Avaya shareholders will get $17.50 in cash per share of common stock they hold. Avaya was spun out from Lucent in 2000. The deal is expected to close in the fall, assuming shareholder and regulatory approval. JPMorgan, Morgan Stanley and Citigroup will work with Silver

Lake and TPG to arrange

debt financing.

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