Symantec receives interest from buyout firms Permira, Advent: WSJ

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Symantec receives interest from buyout firms Permira, Advent: WSJ
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Private equity firms Permira and Advent International Corp have proposed a deal ...

- Private equity firms Permira and Advent International Corp have proposed a deal to buy Symantec Corp for more than $16 billion after the cyber security company agreed to a sale of a big chunk of its business, the Wall Street Journal reported on Friday.

Such a structure could reduce the tax bill for its shareholders, the WSJ report said, citing people familiar with the matter. If it does, it could involve the firms buying Symantec and proceeding with the sale to Broadcom or waiting for the enterprise deal to close and then acquiring the consumer unit, the Journal reported.

In August, Broadcom said it would buy Symantec’s enterprise security unit for $10.7 billion in cash to scale up its software business through deals.

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