Avaya Global up on parent's takeover

DALAL STREET SPIKES

Avaya GlobalConnect soared over 9 per cent from its previous close of Rs 351.50 to Rs 383.55, after touching its 52-week high of Rs 414 during the session. Just a shade less than 7 lakh shares were traded on the counter.

The surge followed the announcement of Silver Lake LP and Texas Pacific Group's TPG Capital LLC to purchase the company's parent Avaya Inc for $8.2 billion.