LifeLock

http://www.4-traders.com/LIFELOCK-INC-11626745/news/Lifelock-Symantec-to-Acquire-LifeLock-for-2-3-Billion-to-Form-World-rsquo-s-Largest-Digital-Safet-23432904/ Symantec and LifeLock today announced that they have entered into a definitive agreement for Symantec to acquire LifeLock for $24 per share or $2.3 billion in enterprise value. The deal, which was approved by the boards of directors of both companies, is expected to close in the first calendar quarter of 2017, subject to customary closing conditions including LifeLock stockholder approval.

http://finance.yahoo.com/news/symantec-permira-said-among-interested-212831860.html Symantec is weighing a bid for LifeLock, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Permira and private equity peer TPG are also among interested bidders, with first-round offers expected to be made this month, the people said.

https://www.benzinga.com/analyst-ratings/analyst-color/16/11/8691724/lifelocks-stock-rallied-8-amid-takeover-report-canaccord Analyst David Hynes notes "there could be multiple suitors in a prospective transaction," and considers a clearing price range for a takeover of $25-$30, above the $22-$23 range implied by the $2B cited price. However, does go on to note the "stock is not for the faint of heart." Price target increased from $21 to $23 (current price $19.66), Buy rating maintained.

Hynes projections assume LifeLock generates $735 million revenue next year and PE buyer would presumably cut costs, resulting in a “cleaned up” EBITDA margin that could top 35 percent in relatively short order. Notably, the company spends mid-40 percent of its revenue on sales & marketing. “If that’s right, we think a PE buyer could make a baseline bid of 10x those grossed up profits, which using 100 million shares and $2/share in cash for simplicity, gets us to a takeout price of nearly $28 per share,” Hynes continued. On the fundamental front, the analyst believes LifeLock is on the verge of realizing an upward turn in its underlying business drivers as the FTC settlement headwinds are on the back burner, and the employee benefits channel should drive healthy fourth-quarter member growth.

http://finance.yahoo.com/news/lifelock-talks-2-billion-private-160800608.html LifeLock is in talks with several parties about being taken private, people familiar with the matter said. Final bids for the company are due this month and could value LifeLock at about $2 billion, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Buyout firm TPG is among potential suitors, two of the people said. Elliott Management Corp., the activist investment group founded by Paul Singer, unveiled a stake in LifeLock in June and owns about 11 percent of the Tempe, Arizona-based company. LifeLock is working with Goldman Sachs Group Inc. on the sale, the people said. Shares of LifeLock jumped as much as 14 percent to $20.03 in New York trading Friday, giving the company a market value of about $1.9 billion.