GoDaddy Rises on Report of Takeover Offer from Gen Digital
Shares of GoDaddy (GDDY) surged nearly 14% following reports that Gen Digital (GEN), the company behind Norton 360 antivirus software, has made a takeover offer. However, both companies have not officially confirmed any deal is in progress. The discussions are said to be at an early stage with no assurance of completion. Meanwhile, shares of Gen Digital fell by over 7.6% as investors reacted negatively to the potential acquisition cost and uncertainty around its strategic direction post-takeover.
Topics: antivirus software stock movement takeover