NortonLifeLock Says Merger With Avast To Close On September 12

NortonLifeLock (NLOK), a consumer Cyber Safety company Friday said its merger with Avast plc is now expected to close on September 12, 2022, following final clearance from Competition and Markets Authority (CMA).

The companies had announced plans to merge in a 6 billion pound deal in August 2021.

CMA had initially raised concerns of this merger curtailing competition. However, today, Kirstin Baker, chair of the CMA inquiry group said, "Phase 2 investigations allow us to explore concerns identified in our initial review in more detail, as we gather further information from the companies involved and other industry players. After reviewing the evidence in an in-depth review, we are now satisfied that this deal won't worsen the options available to consumers. As such, we have concluded that the deal can go ahead."

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