McAfee stock fell 3.4 % on Monday as investors were disappointed with the terms of a $14 billion deal that would take the antivirus software maker private.
The bidders are led by private equity firm Advent and include Permira Advisers, Crosspoint Capital, the Canada Pension Plan Investment Board, Singapore's GIC Private, and an Abu Dhabi Investment Authority wholly-owned subsidiary.
The all-cash transaction values each McAfee share at $26, barely 54 cents more than the stock's Friday closing price of $25.46. The stock had finished with a 20% rise that day.
After accounting for the company's debt, the acquisition values the company's stock at $12 billion and its enterprise value at more than $14 billion.
The agreement comes at a time when demand for antiviral software is increasing because of the widespread use of remote work during the pandemic. This has resulted in a slew of new chances for hackers.
McAfee Trades Weaker on Private Equity Buyout Terms