Why McAfee Stock Skyrocketed Friday Afternoon
Shares of McAfee (NASDAQ: MCFE) were quiet most of Friday, going sideways on perfectly ordinary trading volume. The computer security veteran suddenly sprung to life at 3:15 p.m. EDT as Bloomberg reported that the company is in "advanced talks" to go private. McAfee closed Friday's trading 20% above Thursday's closing price, having backed down from a peak gain of 24.4%.
Image source: Getty Images.
A deal could be announced in a matter of days, according to Bloomberg's anonymous insider sources. The final price tag should land above the $10 billion mark in a team-up by private equity firms Permira and Advent International. Both firms focus on international growth investments and they have a total of $125 billion under management.
Source Fool.com
