Both the Wall Street Journal
and the New York Times
are reporting that Avaya (NYSE:AV
) is considering selling all or part of the telecommunications equipment company. The WSJ story listed Nortel (NT
) and private equity firm Silver Lake Partners as possible buyers; the Times listed those two, as well as Cisco Systems (NASDAQ:CSCO
). The Times story also says the company has hired Credit Suisse as an adviser.
The Times story also noted that “speculation about a deal for Avaya has percolated since Friday, when the company postponed its analyst meeting scheduled for Thursday.”
On Friday, Avaya shares rose 22 cents to $13.67, and then jumped another 33 cents to $14 in after hours trading. As of the close of the regular session Friday, Avaya had a market cap of about $6.2 billion.
AV 1-yr chart: