Avaya go-shop period ends with no proposals; acquisition by investment firms on track to close in the fall

By Lisa Kerner

Charlotte, N.C, July 25 - The go-shop period in the proposed merger of Avaya Inc. with Silver Lake Partners and TPG Capital affiliate Sierra Holdings Corp. ended July 24. Of the 36 parties contacted, none had submitted an acquisition proposal during the period, according to a form 8-K filing with Securities and Exchange Commission.

As previously reported, Avaya entered into a definitive merger agreement on June 5 to be acquired by private investment companies Silver Lake and TPG Capital for $8.2 billion, or $17.50 per share. The transaction, which is not conditioned on financing, is expected to be completed in the fall of 2007.

Avaya is a Basking Ridge, N.J.-based provider of communication systems, applications and services.

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