Avaya: Report Company Close To $9B-Plus Sale

Avaya (AV) could be sold as soon as next week, a buyout valued at more than $9 billion, according to a report Friday afternoon by Light Reading.

The story, which is attributed to simply “a Wall Street source,” says the final bidders are Nortel (NT) and the private equity firm Silver Lake Partners. Nortel is reportedly offering a combination of cash and stock, while Silver Lake would pay all cash.

Light Reading says that according to its source the company will be sold by next Wednesday for more than $20 a share.

Earlier this week, both the New York Times and the Wall Street Journal reported that Avaya was considering selling itself; the Journal cited Nortel and Silver Lake as possible bidders; the Times also cited Cisco as a potential suitor.