Symantec stock spikes after report that Broadcom talks resumed and are focused on enterprise unit
Symantec Corp. shares jumped more than 12% in after-hours trading Wednesday after a report that acquisition talks with Broadcom Inc. had resumed with eyes just on one part of the company. The Wall Street Journal reported that Broadcom was nearing a deal to buy Symantec's enterprise-security unit, mostly made up of the former Blue Coat Systems Inc., which Symantec bought for less than $5 billion in 2016. The deal could value the unit close to $10 billion and be complete as soon as Thursday, the Journal reported, while cautioning that the deal could fall apart just as talks about selling all of Symantec reportedly did last month. Symantec is expected to report quarterly earnings Thursday afternoon.
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