7th Feb 2022 21:42
(Alliance News) - Consumer cyber safety firm NortonLifeLock Inc said late Monday its USD8.6 billion takeover of London-listed digital security company Avast PLC has gained antitrust clearance from Germany's Federal Cartel Office.
Earlier Monday, Avast announced that an interim dividend of 11.2 cents would be paid only if its takeover was delayed. Avast said the dividend will not be paid if the deal is completed before March 1.
On Friday last week, NortonLifeLock noted that the UK Secretary of State for Business, Energy & Industrial Strategy would take no further action under the National Security and Investment Act of 2021.
In August 2021, Avast agreed to be bought by Tempe, Arizona-based NortonLifeLock in a deal worth at the time about USD8.6 billion. For each Avast share, the offer was USD2.37 in cash, plus 0.1937 of a NortonLifeLock share.
Shares in NortonLifeLock rose 2.6% to USD28.30 each in New York on Monday. The stock was 0.7% higher after hours. Avast shares rose 0.1% to 620.39 pence in London, valuing the company at USD6.48 billion.
By Dayo Laniyan; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
AVST.L