Symantec Drops on Report Broadcom Deal Falls Through
July 15 2019 - 9:59AM
Dow Jones News
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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