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Report: Broadcom Secures Financing For Symantec Acquisition

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Report: Broadcom Secures Financing For Symantec Acquisition

Symantec Corporation (NASDAQ: SYMC) shares are trading higher after following Bloomberg reports that Broadcom Inc (NASDAQ: AVGO) has secured financing for an acquisition of Symantec.

The deal could value the cybersecurity firm at more than $22 billion including debt and an agreement could be reached around mid-July, according to Bloomberg.

Symantec shares are trading up 4.8% at $26.20 in Monday's pre-market session. The stock rose 15% and hit a new 52-week high on July 3 when reports of a potential takeover first emerged.

Related Links:

Analyst Says Now Is The 'Golden Time' For Symantec To Sell Itself To Broadcom

Symantec Shares Are Flying On Report Broadcom Is Eyeing A Takeover

 

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