Cybersecurity company Symantec could be acquired in a deal valued at more than $16 billion.
Citing people familiar with the offer, the Wall Street Journal reported that private equity firms Permira and Advent International have offered $26 to $27 a share to buy Symantec.
The proposed deal involving the PE firms would happen along with the sale of Symantec’s enterprise business to Broadcom for $10.7 billion, according to the Journal.
Under one possibility, Symantec would sell its consumer business to the PE firms after the deal with Broadcom closes; an alternative possibility has Permira and Advent acquiring the whole company and then selling off the enterprise unit to Broadcom, ( as indicated by the Journal).