Symantec (SYMC) - What does it look like? Message Board

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Technology Stocks : Symantec (SYMC) - What does it look like?

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From: JakeStraw	12/16/2004 8:22:45 AM
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Symantec and Veritas to Merge thestreet.com By TSC Staff 12/16/2004 8:13 AM EST Symantec (SYMC:Nasdaq) Thursday said it will acquire rival software company Veritas Software (VRTS:Nasdaq) in an all-stock deal. Based on Symantec's closing stock price of $27.38 on Dec. 15, the transaction is valued at approximately $13.5 billion. The two Silicon Valley-based companies have been discussing a deal for more than a month, Under the agreement announced by the two companies, Veritas stock will be converted into Symantec stock at a fixed exchange ratio of 1.1242 shares of Symantec common stock for each outstanding share of Veritas common stock. The deal price represents about a 9.5% premium for Veritas shareholders. Veritas shares added 89 cents, or 3.2%, to $29 in premarket trading. Symantec fell $1.32, or 4.8%, to $26.06. The transaction is expected to close in the second quarter of 2005 will be accretive in the first combined year of operations.

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