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Broadcom and Symantec no longer negotiate a deal

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Broadcom and Symantec no longer negotiate a deal
July 15
13:00 2019

Referring to their own sources, CNBC has reported that chip manufacturers Broadcom and Symantec no longer negotiate between themselves about the deal planned.

On Monday, the shares of Symantec went into a nosedive, dropping by 20%. It should be noted that the company is a leading developer of the software for data protection. 

Earlier this month, there were reports that Broadcom had been actively cooperating with Symantec on the occasion of the purchase. Such cooperation could significantly expand the company’s presence in the software market.

Sources told CNBC that Symantec would not have accepted the deal if the price of their securities had been below $ 28. On Friday, the company’s stock price closed at $ 25.6.

On Monday, Broadcom shares have slightly increased- by 2.3%.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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