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Money

Avaya Announces Stock Buyback Plan

Avaya, the Basking Ridge-based communications network developer, today authorized a plan to repurchase up to $500 million outstanding shares of its common stock over the next two years. The share repurchase plan will be funded using cash, officials said.

"This plan underscores Avaya's financial strength," said Caroline Dorsa, CEO, Avaya.

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Cyclacel Pharmaceuticals to Raise 36 million

Cyclacel Pharmaceuticals, a Berkeley Heights-based biotechnology company developing cancer drugs, has agreed to raise $36 million before fees and expenses by selling shares of its common stock and warrants. It is a registered direct financing, which means that it is not being underwritten. Shares of Cyclacel were down $0.33 to $8.17 in early...

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Pinnacle Foods to Sell for 2.16B

The owners of Mountain Lakes’ Pinnacle Foods have agreed to sell the firm to affiliates of New York City-based The Blackstone Group for about $2.16 billion in cash and the assumption of debt. Under the deal, an affiliate of The Blackstone Group is expected to merge with Crunch Holding, the direct owner of privately held Pinnacle, which owns...

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