Regulators OK $8.2B purchase of Avaya |
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Published
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Fri, 29 Jun 2007 22:52
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WASHINGTON (AP) - Federal antitrust regulators have approved the purchase of telephone systems maker Avaya Inc. for $8.2 billion by two private equity groups.The government has completed its review and approved the deal without any conditions, according to a notice issued by the Federal Trade Commission.The company said June 4 that it had agreed to be bought out by Silver Lake and TPG Capital, two private equity firms with significant technology holdings.The company said in announcing the deal that it expected the transaction to close in the fall of 2007.Shares of Avaya rose 6 cents to $16.90 in after-hours trading, after dropping 4 cents to finish at $16.84 Friday.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Avaya OKs $8.2B buyout from equity firms 