NortonLifeLock , a global leader in consumer Cyber Safety, announced that its recommended merger with Avast plc (“Avast”) has received antitrust clearance from Germany’s Federal Cartel Office. Additionally, on February 4, 2022, NortonLifeLock was notified that the U.K.’s Secretary of State for Business, Energy and Industrial Strategy would be taking no further action under the National Security and Investment Act of 2021, satisfying another condition to close for the Merger.
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On February 3, 2022, the boards of Avast and NortonLifeLock released an updated expected timetable for the closing of the Merger. The Merger is proposed to be effected by means of a U.K. court-sanctioned scheme of arrangement under which Nitro Bidco Limited, a wholly owned subsidiary of NortonLifeLock, will acquire the entire issued and to be issued ordinary share capital of Avast, and remains subject to the terms and additional conditions to closing set out in the scheme document that was published on October 28, 2021.
Subject to the satisfaction or, if applicable, waiver by NortonLifeLock of the outstanding regulatory conditions, the Merger is expected to be completed on February 24, 2022.
About NortonLifeLock Inc.
NortonLifeLock Inc. (NASDAQ: NLOK) is a global leader in consumer Cyber Safety, protecting and empowering people to live their digital lives safely. We are the consumer’s trusted ally in an increasingly complex and connected world. Learn more about how we’re transforming Cyber Safety