Symantec Corporation SYMC is considering breaking its business into two distinct companies, according to Bloomberg News, following in the footsteps of similar moves recently by eBay Inc and Hewlett-Packard Company.
This move would allow Symantec to better compete and looks to unlock shareholder value.
Symantec will likely split up its business into two entities, security and data storage. The official announcement by the company may be a few weeks away, according to unnamed sources.
Symantec officials declined to comment.
Shares of Symantec Corporation were trading at $24.14 in the premarket, up 4.1 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
