FILE PHOTO: A signal to the campus areas of work of chip maker Broadcom Ltd is proven in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File Picture
(Reuters) - Chipmaker Broadcom Inc (AVGO.O) is in developed talks to capture Symantec Corp’s (SYMC.O) endeavor enterprise, in accordance with other folks conversant within the topic.
It’s that that you just would be succesful to imagine that a deal is reached by the time Symantec pronounces earnings on Thursday, but negotiations might perhaps additionally closing longer, the sources acknowledged.
Each and each the companies might perhaps additionally no longer be without delay reached for relate.
The deal might perhaps be rate about $10 billion, the Wall Avenue Journal reported, citing sources.
Shares of Symantec, which has a market tag of $12.63 billion, rose 14% in extended trading, while those of Broadcom fell 1%.
Symantec closing month walked away from negotiations to sell itself to Broadcom over tag disagreements, Reuters had reported, citing other folks conversant within the topic.
Symantec is struggling with excessive opponents from nimbler rivals and has viewed several top stage executives inch away the firm this three hundred and sixty five days, while it might perhaps be being investigated by U.S. regulators over an accounting irregularity.
Reporting by Supantha Mukherjee in Bengaluru and Greg Roumeliotis in New York; Modifying by Arun Koyyur
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