Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, April 26, 2019

Article Excerpt

AVAYA HOLDINGS CORP., $19.24, symbol AVYA on New York, is a global leader in digital communications products, systems and services for businesses of all sizes. It has a presence in more than 180 countries. The company reports that in late March 2019 it began to receive unsolicited takeover offers from interested private equity firms. Some of the potential bidders already have interests in the global communications market. For example, Searchlight Capital Partners acquired Mitel a year ago, and Permira Holdings owns contact centre solution specialist Genesys. Apollo Global Management LLC owns telecom services provider West Corp. Avaya has hired the investment banking arm of J.P. Morgan to entertain bids from the various parties. Final offers are due by early May. The company was originally a subsidiary of Lucent Technologies Inc., which spun it off in 2000. Seven years later, in 2007, an $8 billion leveraged buyout by private-equity firms TPG Capital and Silver Lake Partners took Avaya private but also left the company with…

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