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Fly News Breaks for June 13, 2016
SYMC
Jun 13, 2016 | 08:06 EDT
Oppenheimer analyst Shaul Eyal views Symantec's acquisition of Blue Coat Capital as positive, with strategic rationale behind the deal. The analyst says Blue Coat is considered a market leader in various security categories, and that in addition to Symantec's announced $400M restructuring plan, the transaction is expected to generate $150M in additional cost savings. Blue Coat's CEO will become the combined entity's CEO with "strong" private equity financial and operational backing, the analyst tells investors in a research note.
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