Department of Justice Approves Symantec Acquistion of QuarterDeck
Symantec grated Hart Scott Rodino approval to proceed with transaction
TORONTO, November 4, 1998 -- Symantec Corporation (Nasdaq: SYMC) announced that effective November 3/98, the Department of Justice has granted early termination of the waiting period under the Hart Scot Rodino Act, allowing Symantec to proceed with its acquisition of Quarterdeck Corporation.
On October 15, Symantec announced a definitive merger agreement with Quarterdeck to purchase all outstanding shares of Quarterdeck common stock at a price of (US)$0.52 per share. Including the assumption of Quarterdeck's outstanding debt, the total purchase price is approximately $65 million. The tender offer is scheduled to close on November 16, 1998.
About Symantec in Canada:
With 250 employees, Symantecís Canadian operations are headquartered in Toronto with offices in MontrČal, Ottawa and Vancouver. For information on Symantec products or current promotions, contact the Canadian office at (416) 441-3676 or access the
World Wide Web
About Symantec
Symantec Corporation helps make users productive and keep their computers safe and reliable anywhere and anytime. Symantec offers a broad range of solutions and is acclaimed as a leader in both customer satisfaction and product brand recognition. The company is focused on addressing customer needs in three main application areas: the Norton product line of anti-virus and PC-assistance products; the pcANYWHERE, WinFax and ACT! product lines that cater to remote user productivity; and the CafČ product lines in Internet development tools.
Founded in 1982, the company's global operations span North America, Europe, Japan and several fast growing markets throughout Asia Pacific and Latin America. Traded on Nasdaq under the symbol SYMC, Symantec Corporation is based in Cupertino, California and employs more than 2,000 people. Information on the company and its products can be obtained by calling (800) 441-7234 toll free, (541) 334-6054 or accessed on the
World Wide Web.
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Brands and products referenced herein are the trademarks or registered trademarks of their respective holders. All prices noted are in US dollars.
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