May 19, 2022

ptemplates

Born to play

NortonLifeLock delays completion of deal for Avast – Security

US cyber safety organization NortonLifeLock has delayed the predicted completion date for its buyout of London-shown rival Avast to April 4, stating it was awaiting regulatory nods in the United Kingdom and Spain.

The income-and-inventory deal, valued at up to US$8.6 billion (A$12 billion) when it was first announced in August previous year, was before anticipated to shut on February 24.

NortonLifeLock’s shares had been down 2.1 percent in extended investing.

The takeover has captivated the scrutiny of Britain’s competitiveness regulator, and the agency in January released an investigation into whether or not the offer will reduce preference for customers in the nation.

The regulator has established a deadline of March 16 for a preliminary selection.