NortonLifeLock - Avast Deal Gets U.S. Regulatory Approval

(RTTNews) - Computer security giant NortonLifeLock Inc. (NLOK) announced the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its recommended merger with Avast plc. The waiting period expired on November 12, 2021.

The merger is proposed to be effected by means of a U.K. court-sanctioned scheme of arrangement, and remains subject to the terms and additional conditions to closing set out in the scheme document that was published on October 28, 2021. The merger is expected to be completed in mid-2022.

In August 2021, NortonLifeLock agreed to buy rival Avast Software B.V. in about $8 billion deal. Under the terms of the deal, Avast shareholders will receive a combination of cash and newly issued shares in NortonLifeLock.