Avaya Holdings Corp AVYA:NYSE

Last Price$12.53NYSE Previous Close - Last Trade as of 6:30PM ET 10/15/19

Today's Change-0.07(0.56%)
Bid (Size)$12.30 (10)
Ask (Size)$14.70 (1)
Day Low / High$12.48 - 12.85
Volume2.2 M

Avaya Says Still Working on Strategic Alternatives; Bloomberg Reports Firm May Abandon Full Sale Sending Shares Down 12%

2:00PM ET 9/12/2019 MT Newswires
Avaya Holdings (AVYA) shares fell 12% after Bloomberg News reported, citing people familiar with the matter, that the company was moving toward ditching plans to sell the company and instead working on a joint venture plan with RingCentral.

Avaya said in a statement Thursday that its review of potential strategic alternatives was "ongoing" and it remained in "advanced discussions." It previously said that the review would be finished by mid-September.

Shares of RingCentral rose 3%.

Avaya has also held discussions with private equity firms, including Searchlight Capital, about a reverse merger, Bloomberg reported.

Avaya said that there can be no assurances the review will result in any particular outcome, according to a statement.

Price: 11.45, Change: -1.62, Percent Change: -12.39