Symantec buys Veritas for $13.5bn stock

@ 2004/12/16
Security firm Symantec and storage software firm Veritas have agreed to merge. The all-stock transaction is valued at approximately $13.5bn, based on Symantec’s stock price of $27.38 at market close yesterday.

The combined company (to be called Symantec) will be able to do a better job at reducing the complexity of securing and managing information, the two firms said. The transaction is expected to close in the second calendar quarter of 2005 and is subject to customary closing conditions, including approval by the shareholders of both companies and regulatory approvals.

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