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Exclusive: Turmoil at Symantec luring activists, buyers – sources

15
Apr
2014

By Nadia Damouni and Nicola Leske NEW YORK (Reuters) – The abrupt firing of Symantec Corp Chief Executive Officer Steve Bennett last month is attracting activist investors and private equity firms to the U.S. security software maker, in a development that could potentially lead to its breakup or sale, sources familiar with the situation said. At the same time, a number of private equity firms, including Bain Capital, Blackstone Group LP and Carlyle Group LP, have started assessing the possibility of a leveraged buyout of all or parts of Symantec, the sources said. Bain did not respond to requests for comment, while the rest of the private equity firms declined to comment. Symantec, best known for its Norton antivirus software, is worth about $14 billion at its current stock price.

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