Symantec Shares Gain 5% Following WSJ Report of Buyout Firm Interest
September 06 2019 - 3:41PM
Dow Jones News
By Stephen Nakrosis
Shares of Symantec Corp. (SYMC) are moving higher in Friday's
market, following a Wall Street Journal report that buyout firms
Permira and Advent International Corp. are seeking to acquire the
cybersecurity company.
At 2:59 p.m. ET, shares of Symantec were trading 5.03% higher,
at $24.65. Shares were slightly in the red earlier in the session,
and touched as high as $25.77 after The Wall Street Journal
reported the news.
Permira and Advent recently proposed a deal that would see them
acquire Symantec at $26 to $27 a share and take control of its
consumer operation while preserving the sale of its enterprise
business to Broadcom Inc. (AVGO), The Wall Street Journal
exclusively reported Friday, citing people familiar with the
matter.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 06, 2019 15:26 ET (19:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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