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.
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.
- Ayesha Waqar