Cyber security group Symantec gets buyout approach

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US cyber security group Symantec has been approached about a potential takeover by private equity group Thoma Bravo, in what would be one of the largest leveraged buyouts since the financial crisis. Discussions to take the $14.5bn company private come amid a wave of leveraged buyouts, with multibillion-dollar auctions under way for Arconic, the aluminium products company, and Johnson Controls International’s battery business. The talks between Symantec and Thoma Bravo could yet fall apart before a deal is agreed, two people familiar with the situation said. While a price for the takeover could not be ascertained by the Financial Times, analysts with Wedbush said Symantec could receive a valuation as high as $30 per share in a buyout. That would value the company at more than $19bn.  more

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