$330 Million Bid For Avaya's Networking Business
Avaya also contacted 37 potential buyers for its networking business, including nine financial sponsors, according to the filing. The company received four bids, ranging in value from $5 million to $330 million. The $330 million bidder lacked significant information around the deal structure, regulatory approvals and "typical due diligence" and was dropped out of the bidding.
The second highest bidder was Extreme Networks at $100 million, which announced its planned acquisition of Avaya's networking business on March 7.