US telecom firm sold for $8.5bn

http://news.bbc.co.uk/2/hi/business/6723351.stm

Telecoms equipment-maker Avaya has accepted an $8.5 billion takeover offer from private equity groups Silver Lake and TPG Capital. "After an extensive review of Avaya's strategic alternatives with Avaya management and our financial advisers, the board of directors of Avaya determined that this transaction with Silver Lake and TPG provides the best value for Avaya's shareholders," said Avaya's chairman Phil Odeen.
The deal is the second multi billion dollar takeover in the US telecom sector with the TPG Capital in a fortnight.