Topic: How To Invest

Power Growth Investor Hotline – Friday, December 13, 2019

Article Excerpt

NORTONLIFELOCK, $26.00, is a buy. The company (symbol NLOK on Nasdaq) is the newly renamed Symantec following the recent sale of its Enterprise Security business to Broadcom (symbol AVGO on Nasdaq) for $10.7 billion. NortonLifeLock is now focused on growing its consumer business to lift investor returns—itmakes and sells computer antivirus and email-filtering software for individuals. As well, its LifeLock business sells them identity-theft protection. Investors saw their shares reach as high as $26.71 week on reports that the company is attracting takeover interest from a number of parties, including rival McAfee LLC. Among the other options being considered is a combination with the consumer business of McAfee, the antivirus-software company owned by Intel Corp. and private-equity firms TPG and Thoma Bravo LLC. Potential bidders may also include private equity funds, among them Permira and Advent International Corp. Meanwhile, with the Broadcom sale closed, NortonLifeLock still plans to pay investors a $12-a-share special dividend in early 2020. However, it has yet to release details…

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