Symantec, Veritas Set Merger Vote
After months of delay, the $13.5 billion merger of Symantec(SYMC Quote) and Veritas Software (VRTS Quote) will be voted on -- and almost certainly approved -- by shareholders on June 24.
Late Thursday, the companies announced that the last bit of red tape -- Securities and Exchange Commission approval of the companies' joint proxy statement -- had been removed. If approved by shareholders, the companies will merge by the end of June or early July. The merger was announced in December and hasn't been well-received on Wall Street. Analysts are concerned that Veritas could slow Symantec's torrid growth rate, and they wonder if there will be constructive synergies between two very different companies -- a security software vendor and a maker of storage management software.- Loading Comments...
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