Broadcom and Symantec call off acquisition talks after failure to agree on offer price

According to Bloomberg, talks between Broadcom and Symantec have stalled due to their failure to agree on the acquisition share price.

Early this month, the same publication reported the alleged intentions of Broadcom to acquire Symantec as part of the former’s plan to expand into the lucrative market segment of cybersecurity software services.

However, over the past weekend, negotiations stalled due to Broadcom’s decision to not meet their “agreed-upon price of US$28.25” per share of Nasdaq-listed Symantec. Bloomberg also speculated that the talks might continue if both parties were willing to come to a compromise.

Source: Bloomberg