Symantec Corp. shares rallied Friday following a report that private-equity firms are looking to keep what's left of the cybersecurity company once Broadcom Inc. closes its acquisition of its enterprise business. Symantec shares rallied 5.5% to $24.79 at last check, after hitting an intraday high of $25.77, following a Wall Street Journal report that private-equity firms Permira and Advent International Corp. are offering $26 to $27 a share for Symantec, valuing the company at $16.4 billion, while preserving the $10.7 billion sale of the company's enterprise unit to Broadcom, which was announced less than a month ago. Shares of Symantec are up 30% for the year, with nearly all of that gain coming in the last three months. The deal would continue the cybersecurity M&A fever that has been playing out in 2019 and forecast by the industry over the past few years.
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