HomeBusinessNortonLifeLock delays completion of deal for Avast

NortonLifeLock delays completion of deal for Avast

U.S. cybersecurity agency NortonLifeLock Inc on Thursday delayed the anticipated completion date for its buyout of London-listed rival Avast Plc to April 4, saying it was awaiting regulatory nods within the United Kingdom and Spain.

The cash-and-stock deal, valued at as much as $8.6 billion when it was first introduced in August final 12 months, was earlier anticipated to shut on Feb. 24.

NortonLifeLock’s shares have been down 2.1per cent in prolonged buying and selling.

The takeover has attracted the scrutiny of Britain’s competitors regulator and the company in January launched an investigation into whether or not the deal will cut back alternative for clients within the nation.

The regulator has set a deadline of March 16 for a preliminary determination.

(Reporting by Ruhi Soni in Bengaluru; Editing by Aditya Soni)

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