Cupertino, Calif --November 4, 1998-- Symantec Corporation (Nasdaq: SYMC) announced that, effective Tuesday, November 3, 1998, the Department of Justice has granted early termination of the waiting period under the Hart Scott 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 $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.
Symantec is the world leader in utility software for business and personal computing. Symantec products and solutions help 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. Symantec is traded on Nasdaq under the symbol SYMC. More information on the company and its products can be obtained at www.symantec.com.
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