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Symantec (SYMC) and FireEye (FEYE) Not Currently Engaged in Buyout Talks

Ryan McQueeney
Updated

After reports that security software maker Symantec SYMC was in talks to acquire FireEye FEYE sent shares of FEYE soaring more than 5%, the cyber security stock has returned to earth thanks to a new source that claims the merger chatter between the two companies quieted down months ago.

According to Reuters, a source familiar with the matter was able to confirm that Symantec and FireEye were previously engaged in buyout negotiations, but the talks fell flat over disagreements on price.

Shares of FireEye spiked on Thursday morning after a post on the financial blog Zero Hedge cited anonymous sources who claimed to know that Symantec’s newly-acquired LifeLock division was willing to shell out $16 per share for FireEye.

Updated reports suggest that Symantec is now focused on integrating its LifeLock and BlueCoat brands. Symantec acquired LifeLock in November and BlueCoat in June.

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