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This Cybersecurity Firm Rejected Multiple Takeover Offers This Year

June 15, 2016, 8:22 PM UTC
FireEye logo is seen outside the company's offices in Milpitas, California
The FireEye logo is seen outside the company's offices in Milpitas, California, December 29, 2014. FireEye is the security firm hired by Sony to investigate last month's cyberattack against Sony Pictures. Picture taken December 29. REUTERS/Beck Diefenbach (UNITED STATES - Tags: BUSINESS SCIENCE TECHNOLOGY CRIME LAW LOGO) - RTR4JTRG
Beck Diefenbach—Reuters

FireEye hired Morgan Stanley (MS) to explore a sale but has since rejected at least two takeover offers this year—including one from Symantec—as they were below its expectations, Bloomberg reported.

The cyber security company was looking for offers of $30 per share or more, Bloomberg reported, citing people familiar with the matter.

Milpitas, Calif.-based FireEye shares closed 4% higher at $16.05 on Wednesday, valuing the company at about $2.66 billion.

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FireEye’s discussions with Symantec (SYMC), the maker of Norton antivirus software, stopped in early February and its talks with another buyer stalled in late March, Bloomberg reported.

FireEye (FEYE) and Symantec were not immediately available for comment.

Symantec said on Sunday that it would buy privately held cyber security company Blue Coat for $4.65 billion to ramp up its enterprise security business.

FireEye, which appointed Kevin Mandia its chief executive last month, is no longer actively looking to sell itself, Bloomberg reported.

Up to Wednesday’s close, FireEye shares had fallen nearly 23% this year.