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Avast rallies as NortonLifeLock clears US regulatory hurdle
15th Nov 2021 09:17
(Sharecast News) - Avast surged on Monday after NortonLifeLock satisfied the US antitrust condition for its £6.2bn acquisition of the London-listed cybersecurity firm.
The acquisition still needs the approval of Avast shareholders, who are due to decide on the deal on Thursday. It was approved by NortonLifeLock shareholders on 5 November.
Avast agreed to be bought by US-based NortonLifeLock in August, in a deal that will see its shareholders receive cash and shares valuing the group at between $8.1bn and $8.6bn.
At 0915 GMT, Avast shares were up 6.6% at 595.60p.
The acquisition still needs the approval of Avast shareholders, who are due to decide on the deal on Thursday. It was approved by NortonLifeLock shareholders on 5 November.
Avast agreed to be bought by US-based NortonLifeLock in August, in a deal that will see its shareholders receive cash and shares valuing the group at between $8.1bn and $8.6bn.
At 0915 GMT, Avast shares were up 6.6% at 595.60p.