Symantec (SYMC) Higher On Reports Activist Investors Could Push for a Break-Up
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Shares of Symantec Corporation (Nasdaq: SYMC) are seeing interest in pre-open trading following reports in the New York Post that activist shareholders have been accumulating shares of hte company and may soon push for a break-up.
A leading shareholder said Symantec could fetch $22 to $26 in a breakup, the report stated.
Takeover rumors have been surrounding Symantec since Intel (Nasdaq: INTC) acquired rival McAfee in August. In fact, Symantec is listed at number 33 on StreetInsider.com's Takeover Target List at M&A Central.
Shares of SYMC last traded at $17.05 in pre-open action, up 3 percent from yesterday's close.
A leading shareholder said Symantec could fetch $22 to $26 in a breakup, the report stated.
Takeover rumors have been surrounding Symantec since Intel (Nasdaq: INTC) acquired rival McAfee in August. In fact, Symantec is listed at number 33 on StreetInsider.com's Takeover Target List at M&A Central.
Shares of SYMC last traded at $17.05 in pre-open action, up 3 percent from yesterday's close.
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