other material
confidence high
sentiment neutral
materiality 0.50
NortonLifeLock closes Avast merger election window early; reopening later due to CMA review delay
Gen Digital Inc.
- Election Window for Avast shareholders closed March 28; will reopen at least six weeks before Court Hearing.
- Court Hearing sanctioning the scheme now expected mid-to-late 2022 due to ongoing UK CMA review.
- Avast shareholders who previously made elections in CREST must resubmit when Election Window reopens.
- Early closure provides NortonLifeLock greater flexibility for potential share buybacks under U.S. securities laws.