Symantec Corporation SYMC shares are trading higher after following Bloomberg reports that Broadcom Inc 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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