The Board of Avast notes the recent press speculation concerning the possibility of an offer being made for the entire issued and to be issued share capital of Avast.
The Board of Avast confirms that it is in advanced discussions regarding a possible merger of Avast with NortonLifeLock Inc. (“Norton”) (the “Possible Merger”).
There can be no certainty as to whether any transaction will take place or the terms on which any Possible Merger may be agreed. A further announcement will be made if and when appropriate.
The Possible Merger may be implemented as a cash and share offer for Avast by Norton in accordance with the requirements of the City Code on Takeovers and Mergers (“Code”).
Also Read: The Evolving Role of the CISO: From Critic to Enabler
In accordance with Rule 2.6(a) of the Code, Norton is required, by not later than 5:00 p.m. (London time) on 11 August 2021, being 28 days after today’s date, to either announce a firm intention to make an offer for Avast in accordance with Rule 2.7 of the Code, or announce that it does not intend to make an offer for Avast, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code.
This announcement has been made without the consent of Norton.
For more such updates follow us on Google News ITsecuritywire News.