Home > News content

Bloom's failure to acquire Symantec: 75 cents short of the transaction price per share

via:博客园     time:2019/7/16 10:39:51     readed:800


Tencent's tech news, last week, the global chip giant boon, the former singapore's high-tech company, was preparing to buy a message from the old security software vendor, simonetsk, to buy about $1.5 billion, but the deal will eventually fail. According to the latest news, the company has put forward the price of the purchase that can meet the condition, but then cut down the price, resulting in a failure of the transaction.

According to sources quoted by foreign media, when the two companies cancelled their acquisitions earlier, Bloom had said it could offer $28.25 per share. This price is already higher than the lowest acceptable price for Symantec, which is $28.

Sources said that after the due diligence of Symantec's business, Bloom lowered the purchase price to below $28.

It should be pointed out that the head of Botong is Chen Fuyang, a Malaysian Chinese, and is recognized by the semiconductor industry around the world.

In the above due diligence, it is not known what problems Bloom found. According to sources, Bloom later cut Symantec's offer by $1 to $27.25. This price is 75 cents from Symantec's psychological price.

Sources said that Symantec hesitated to reduce the offer of Bloom.

The failure of the acquisition negotiations confused some Wall Street analysts. Daniel, an analyst at Wade Bush Securities in the United States

Earlier this month, Symantec's share price soared after news that Bloomcom was in deep negotiations to acquire the security software provider. The two sides are reportedly negotiating prices, and the other two companies see potential synergies of $1.5 billion in the deal.

On Monday, Symantec shares tumbled 12.8% to close at $22.30 as news of the deal's failure emerged. Broadcom's share price rose slightly by 1%.

With cloud security companies grabbing market share and innovative technology companies offering new ways to protect mobile devices, Symantec has been plagued by management turnover and weak core business in recent years.

Chipmaker Bloom surprised outsiders by buying software company CA for $19 billion last year.

After the acquisition of a number of chip companies, the company announced a $13 billion acquisition of Qualcomm, a semiconductor market

Earlier this month, three people familiar with the matter disclosed that as a backup plan to acquire Symantec, Bloomcom has also been trying to acquire Tibco, an infrastructure software company.

In the software industry, Botong acquired companies in a downward trend. Technological media said that Botong embodied the style of a private equity investment company, that is, acquiring companies with poor performance, and then revitalizing the company by cutting costs, laying off staff and restructuring business. Previously, Botong's restructuring of CA has also achieved preliminary success. (Tencent Technology Revision/Chengxi)

China IT News APP

Download China IT News APP

Please rate this news

The average score will be displayed after you score.

Post comment

Do not see clearly? Click for a new code.

User comments