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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Symantec Corporation | NASDAQ:SYMC | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 23.75 | 23.03 | 23.97 | 0 | 01:00:00 |
From Apr 2019 to Apr 2024
By Maria Armental
Private-equity firm Carlyle Group LP will pay $7.4 billion for Symantec Corp.'s Veritas data-storage and recovery business, a downward revision citing "uncertainties" that surfaced following the August deal announcement.
Under the revised terms, Carlyle will pay $6.6 billion in cash, rather than the previous $8 billion the two companies had agreed on. To make up for the difference, Carlyle is also to take a $400 million equity interest in Veritas and will double the amount of offshore cash remaining in Veritas to $400 million.
The deal is expected to close on Jan. 29.
Carlyle's stock rose 3% in late trading to $13.40, while the cybersecurity company's edged down to $19.02.
Meanwhile, Symantec said it expects to report adjusted earnings and revenue above the midpoint of guidance it gave Nov. 5 for its fiscal third quarter.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
January 19, 2016 18:46 ET (23:46 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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