GO
Loading...

Enter multiple symbols separated by commas

TPG, Silver Lake Near Deal for Avaya: WSJ

Private-equity firms TPG Capital and Silver Lake Partners are in a leading position to buy telecommunications equipment company Avaya for about $17 per share, the Wall Street Journal reported in its online edition on Monday.

The deal could break down or Avaya could fall into the hands of another suitor, such as Canada's Nortel Networks , the Journal reported, citing people familiar with the matter.

Silver Lake declined comment. Neither TPG nor Avaya could immediately be reached.

Avaya's small size relative to rivals like Cisco Systems has long made the company a subject of takeover speculation. Such talk intensified last week, helping lift the stock to its best level since 2005, after Avaya postponed an investor conference.

The company, with about $5 billion in annual revenue, provides equipment for Web-based telephone calls. Its stock closed Friday at $16.08.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • The tweet before the storm

    Jon Steinberg, Daily Mail NA CEO, joins Squawk Alley to discuss a tweet made by Marc Andreessen and speculates Twitter's next CEO.

  • European markets close: Third day of gains

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including European earnings that beat expectations.

  • CNBC update: Cincinnati cop pleads not guilty

    A University of Cincinnati police officer pleads not guilty to murder charged; and Israel's parliament passes a controversial law that permits the force feeding of inmates on hunger strikes, reports CNBC's Sue Herera.