According to Reuters, due to differences in opinions on the transaction price, the trading negotiations of Broadcom's acquisition of Symantec have been terminated.
Although there is no official news to reveal the real reason for the breakdown of the negotiations, a source said that Broadcom was willing to buy Symantec for $28.25 per share last week and hopes to reach an agreement on Monday. However, CNBC reported that the acquisition negotiations were suspended because Symantec did not accept acquisitions below $28 per share.
The report pointed out that Symantec has always attached great importance to this transaction, but finally gave up. According to sources, the negotiations between the two sides have the opportunity to resume based on the quotation change.
Bernstein Research’s analyst Stacy Rasgon said, "Broadcom's acquisition of software companies is their strategy. If the acquisition of Symantec fails, they will consider buying other companies in the future."
