Symantec Shares Gain 5% Following WSJ Report of Buyout Firm Interest

   By Stephen Nakrosis

Shares of Symantec Corp. (SYMC) are moving higher in Friday's market, following a Wall Street Journal report that buyout firms Permira and Advent International Corp. are seeking to acquire the cybersecurity company.

At 2:59 p.m. ET, shares of Symantec were trading 5.03% higher, at $24.65. Shares were slightly in the red earlier in the session, and touched as high as $25.77 after The Wall Street Journal reported the news.

Permira and Advent recently proposed a deal that would see them acquire Symantec at $26 to $27 a share and take control of its consumer operation while preserving the sale of its enterprise business to Broadcom Inc. (AVGO), The Wall Street Journal exclusively reported Friday, citing people familiar with the matter.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 06, 2019 15:26 ET (19:26 GMT)

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