"Avaya confirmed today that its review of a range of strategic alternatives is ongoing and it remains in advanced discussions. Avaya’s board of directors and management, supported by its legal and financial advisors, are working expeditiously to conclude the deliberate and comprehensive review. There can be no assurances regarding the timing of any action or transaction nor that the strategic review process will result in any particular outcome. The Company does not intend to provide additional updates unless or until it determines that further disclosure is necessary."
Channel investors, Midmarket, Content
Avaya for Sale? New Company Statement

Will Avaya be acquired? The unified communications and contact center solutions provider issued a vague update today. An Avaya statement disclosed:Mitel Networks, which apparently bid for the company in August. Clayton Dubilier & Rice (CD&R), a private equity firm that apparently made an all-cash bid for Avaya in August. RingCentral may also be involved in that CD&R bid, Reuters reported in August. Among the nuances Avaya's board may be mulling: The Mitel deal may involve Avaya shareholders accepting stock in the combined company, according to reports. The CD&R deal, by contrast, would allow Avaya shareholders to cash out -- though the valuation would be less than the Mitel offer, Reuters reported in August. Among the additional companies that may have given Avaya a look: Apollo Global Management, Permira Holdings and Searchlight Capital Partners (which owns Mitel), according to an April 2019 Bloomberg report.And of course, there's a chance Avaya could simply decline takeover offers and continue forward on its own.None of the alleged bidders have commented about the M&A rumors.
Related Update - October 3, 2019: RingCentral Invests In Avaya
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