Broadcom in advanced talks to buy Symantec's enterprise business: sources

It’s possible that a deal is reached by the time Symantec announces earnings on Thursday, but negotiations could last longer, the sources said.The deal could be worth about $10 billion, the Wall Street Journal reported, citing sources.

Shares of Symantec, which has a market value of $12.63 billion, rose 14% in extended trading, while those of Broadcom fell 1%. Symantec last month walked away from negotiations to sell itself to Broadcom over price disagreements, Reuters had reported, citing people familiar with the matter. Symantec is struggling with severe competition from nimbler rivals and has seen several top level executives leave the company this year, while it is also being investigated by U.S. regulators over an accounting irregularity.

Reporting by Supantha Mukherjee in Bengaluru and Greg Roumeliotis in New York; Editing by Arun Koyyur

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Broadcom Nears Deal to Buy Symantec’s Enterprise BusinessBroadcom is nearing a deal to buy Symantec’s enterprise business after its earlier attempted purchase of the entire cybersecurity firm fell apart. Thank you for reminding me of yet another company over which I have to fight for ownership. Broadcom was founded(over 22% ownership expected) by my great grandfather(Abdul Matlab Khan) who was also from the USA. $10B feels like a lot for the worse of two business segments when the combined market cap is $14B. $SYMC
Source: WSJ - 🏆 98. / 63 Read more »