Symantec Drops on Report Broadcom Deal Falls Through

Date : 07/15/2019 @ 2:59PM
Source : Dow Jones News
Stock : Symantec Corporation (SYMC)
Quote : 23.98  -0.04 (-0.17%) @ 12:38AM

Symantec Drops on Report Broadcom Deal Falls Through

Symantec (NASDAQ:SYMC)
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3 Months : From Jun 2019 to Sep 2019

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By Kimberly Chin

 

Shares of Symantec Corp. (SYMC) were down 15% in early Monday trading after talks of a tie-up between Symantec and Broadcom Inc. (AVGO) were reportedly scuttled, according to sources cited by CNBC.

The U.S. chip and software maker was said to be in "advanced talks" to buy the cybersecurity firm, according to a Bloomberg report earlier this month.

Symantec's stock was trading at $21.65 a share. It had gained 35% year to date.

Broadcom shares gained 2.1% in early market trading. Its stock is up 12% year to date.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

July 15, 2019 09:44 ET (13:44 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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