Avaya shareholders OK acquisition by Silver Lake, TPG affiliates

By Lisa Kerner

Charlotte, N.C., Sept. 28 - Avaya Inc. shareholders voted to approve the company's acquisition by affiliates of Silver Lake Partners III, LP and TPG Partners V, LP at a special meeting held on Friday.

All regulatory approvals, including clearance from the European Commission, have been obtained.

Under the June 4 merger agreement, Avaya will be acquired by the private investment companies for $17.50 in cash per share of common stock in a transaction valued at $8.2 billion.

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

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