Symantec (SYMC) Completes Sale of Veritas, Increases Buyback Plan by $2B
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Symantec Completes Sale of Veritas, Now Singularly Focused on Cybersecurity
January 29, 2016 4:05 PM ESTBoard Authorizes $2 Billion Increase to Capital Return Program; Expects to Return More Than $4 Billion to Shareholders by End of March 2017
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Symantec Corp. (NASDAQ: SYMC) today announced that it has completed the sale of Veritas to a group of investors led by The Carlyle Group. In connection with the closing of the transaction, Symantec received approximately $5.3 billion in after-tax cash proceeds.
Symantec is on track to return more than $4 billion in capital to its shareholders by the end of March 2017. This capital return includes:
A $500... More