FireEye Pops On Takeover Talk, Source Says No Deal Imminent

FireEye Inc FEYE spiked Thursday on rumors of a possible takeover by Lifelock, Inc. Cincarious Research posted the news in a ZeroHedge article, citing sources in the security space.

“We were told the company is seeking to expand offerings and the added cyber-security depth from FireEye on the government level is what LifeLock wants, badly,” the note read. “The deal is set for $16 per share for a total valuation of $2.7 billion.”

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Lifelock was acquired by Symantec Corporation SYMC on February 9, and its new parent had issued previous bids for FireEye throughout 2016.

A source familiar with the matter lent credence to the latest ZeroHedge report, but told Benzinga negotiations between FireEye and Symantec are still in very early stages and may not lead to a deal.

Following Benzinga's report of the issue, shares popped an additional 5 percent. The stock traded recently at $11.50, up 2.4 percent on the day.