Avaya reportedly in talks about leveraged buyout

Bangalore, May 30: Avaya, telecommunications equipment maker is in talks with private equity and strategic bidders about selling all or part of the company, according to a report by The Wall Street Journal.

The company has a market capitalization of more than .1 billion, is in talks with private equity firm Silver Lake Partners about a leveraged buyout, according to the report.

It also has held recent talks with rival Nortel Networks about a possible deal, but the two sides failed to agree on a price or on whether Nortel would use cash or stock to fund the deal, according to the report.

Avaya and Nortel are still in contact, however, and a deal could materialize, the newspaper said.

Nortel and Silver Lake declined to comment. Avaya could not be immediately reached for comment.

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