Shares of Symantec (SYMC) - Get Report surged Friday after a report the cybersecurity giant has fielded an offer of what could be a blockbuster deal valued at more than $16 billion.

Symantec's stock jumped 4.5% to $24.52 after the Wall Street Journal reported that a pair of private equity firms expressed interest in acquiring the tech company.

The two firms, Permira and Advent International, have offered $26 to $27 a share, the Journal reported, citing people familiar with the offer.

The proposed deal is also notable for the fact that Symantec has already agreed to sell its enterprise business to Broadcom (AVGO) - Get Report for $10.7 billion.

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The Permira/Advent proposal is designed to work in tandem with Symantec's agreement to sell the separate part of its business to Broadcom, although the exact details have yet to be hammered out, the Journal reported.

Under one scenario, Symantec would sell its consumer business to the PE firms after the deal with Broadcom closes. Another possibility has Permira and Advent taking the whole company and then selling off the enterprise unit to Broadcom, according to the Journal.