NortonLifeLock, Avast To Merge

(RTTNews) - NortonLifeLock and Avast said that they have reached agreement on the terms of a recommended merger of Avast with NortonLifeLock for the entire issued and to be issued ordinary share capital of Avast.

As per the terms of the merger, Avast Shareholders will be entitled to receive $7.61 in cash and 0.0302 of a New NortonLifeLock Share for each Avast share held. The majority cash option comprises about 90% by value in cash and about 10% by value in New NortonLifeLock shares.

The merger values the entire issued and to be issued ordinary share capital of Avast between about 6.2 billion pounds or $8.6 billion and 5.8 billion pounds or $8.1 billion.

On completion of the Merger, the Combined Company will be dual headquartered in Prague, Czech Republic, and Tempe, Arizona, USA, and will have a significant presence in the Czech Republic. The Combined Company will be listed on NASDAQ.