Seeking Alpha

Reuters: ValueAct, Bain, Blackstone among firms eyeing Symantec

  • ValueAct Capital, which won a Microsoft board seat last year, is among the activist investors thinking of taking a stake in Symantec (SYMC), sources tell Reuters.
  • Meanwhile, P-E firms including Bain, Blackstone, and Carlyle have reportedly "started assessing the possibility of a leveraged buyout of all or parts of Symantec." Reuters adds some P-E firms "have approached Symantec in recent weeks to discuss deal possibilities," but there are currently no serious talks going on.
  • 11 days ago, Reuters and Bloomberg reported Symantec is hiring one or more banks to explore its options and defend itself against activists following the firing of CEO Steve Bennett.
  • Shares are near breakeven on a rough day for the Nasdaq.
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