Canada's Industry Minister Eyes Avaya-Nortel Deal

By Erin Marie Daly

Law360, New York (September 24, 2009, 3:20 PM ET) -- Telecommunications company Avaya Inc.’s bid to acquire bankrupt Nortel Networks Corp.’s business phone system unit for $915 million has come under fire again, with Canada’s industry minister vowing to scrutinize the proposed deal.

Tony Clement, Canada’s minister of industry, said Thursday that Avaya had filed an application for review under the Investment Canada Act of its proposed acquisition of Nortel’s enterprise solutions division.

But the Nortel assets being sold to Avaya exceed the CA$312 million (US$$457 million) threshold set by the ICA, and therefore a review...
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