The ongoing negotiations between Symantec (US software giant, known primarily for its Norton Antivirus) and Broadcom are currently on standby. A situation that disadvantages Symantec on the stock market, with a fall of 15% of the value of its action yesterday in the afternoon.
This takeover attempt of Symantec by Broadcom comes after the acquisition by the giant San Jose CA Technologies for 18 billion last year. Broadcom, which wants to strengthen its positions in the software sector, could benefit from an agreement with Symantec but does not seem ready for all concessions, including the amount required to close the deal.
Negotiations could resume
According to sources close to the file who preferred to remain anonymous, the discussions between the two entities would have frozen while Broadcom tried to return to the proposed price per share for the acquisition of Symantec. Initially, the firm specializing in semiconductors planned to invest $ 28.25 per share (a total of $ 17.5 billion for Symantec in its entirety) but would have sought to plane this sum of $ 1.50, on which a preliminary agreement had been concluded.
According to Bloomberg, however, negotiations could resume. This would require both parties to agree to take one step towards the other. Not won on the side of Symantec who would not want to go below the $ 28 per share.
In fact, the pressure on the publisher of Norton Antivirus (especially on the stock market) could nevertheless help simplify the task of Broadcom, whose share won yesterday 2,4% to 292,20 dollars. Symantec, it had to do with a fall of 15% of the value of its action, which stabilized hardly with 21,70 dollars over the same period.
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