Shares of Avaya Holdings (AVYA - Get Report) soared Monday following a report that said the telecommunications equipment and software vendor was considering a leveraged buyout offer from a private-equity firm that would value it at more than $5 billion, including debt.
Reuters, citing people familiar with the matter, reported that Avaya's board was evaluating an offer from a private-equity firm that values it at more than $20 a share.
Avaya shares were jumping 33.5% to $17.64. The stock closed Friday at $13.21, giving it a market capitalization of $1.5 billion. The company also had $3.2 billion in debt as of the end of December, according to Reuters.
The identity of the private-equity firm making the offer couldn't immediately be learned, Reuters said. Avaya has attracted acquisition interest from PE firms over the last few months.
Avaya emerged from bankruptcy protection 15 months ago. It was spun off from Lucent Technologies in 2000, which used to be part of AT&T.
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