- NortonLifeLock Inc’s (NASDAQ:NLOK) $8.6 billion purchase of Avast PLC (OTC:AVTTY) (OTC:AVASF) hit a roadblock after Britain’s antitrust regulator looked to launch a deeper investigation into the deal.
- NortonLifeLock in August proposed to acquire rival Avast in a cash-and-stock cyber deal to create a leader in consumer security software.
- Britain’s Competition and Markets Authority (CMA) said the deal could harm competition and lead to British customers getting a worse deal when looking for security software, Reuters reports.
- NortonLifeLock did not look to propose any ‘Phase 1’ remedies, calling the CMA’s decision “surprising.”
- NortonLifeLock admitted that the investigation would delay the deal’s completion, which would likely close in mid-to-late 2022.
- Price Action: NLOK shares traded lower by 11.5% $26.65 on the last check Wednesday.
Morgan Stanley Maintains Equal-Weight on Spirit Realty Cap, Raises Price Target to $55
Morgan Stanley analyst Ronald Kamdem maintains Spirit Realty Cap (NYSE:SRC) with a Equal-Weight and raises the price target from $49 to $55.
