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Report: Avaya mulls $5B leveraged buyout offer from private equity firm

An unidentified private equity firm made a leveraged buyout offer to telecommunications equipment and software vendor Avaya Holdings Corp., valuing it at upward of $5 billion, including debt, Reuters reported, citing people familiar with the matter.

Avaya, which emerged from bankruptcy protection 15 months ago, is evaluating the bid that pegs its value at over $20 per share, said the sources.

Avaya shares traded at $13.21 at market close March 22, reflecting a market capitalization of $1.5 billion. The company also reported $3.2 billion in debt at the end of December 2018.

In 2007, private equity firms TPG Capital and Silver Lake Partners paid $8.3 billion for Avaya.

The target company did not immediately respond to the news outlet's request for comment, the March 24 report added.