Symantec, Carlyle Group Amend Terms Of Veritas Purchase Agreement

(RTTNews) - Symantec Corp. (SYMC) and The Carlyle Group (CG) Tuesday said they have amended the purchase agreement for Carlyle's acquisition of Symantec's Veritas information management business.

Under the amended terms, the purchase price will be $7.4 billion. Symantec and Carlyle also agreed to increase the amount of offshore cash remaining in Veritas from $200 million to $400 million, which will result in a net consideration to Symantec of $7 billion.

This consideration will consist of $6.6 billion in cash and a $400 million equity interest in Veritas.

Upon closing of the transaction, Symantec expects to receive approximately $5.3 billion in after-tax cash proceeds and the equity interest in Veritas compared to $6.3 billion after-tax proceeds under the prior purchase agreement.