MoneyLion surges on buyout deal with Norton owner Gen Digital

Gen Digital

10/12/2024 14:23

** Shares of fintech firm MoneyLion  ML.N  jump 13.6% to
$87.5 in premarket trading
    ** Gen Digital  GEN.O  has agreed to buy fintech firm in an
all-cash deal valued at about $1 billion
    ** Deal offers $82 for each MoneyLion share and includes an
additional payment, contingent on Gen Digital's future stock
performance
    ** Buyout will bolster Gen Digital's offerings with
MoneyLion's digital consumer finance platform, including
personal finance management tools
    ** Up to last close, stock had risen 22.8% YTD

 (Reporting by Kritika Lamba in Bengaluru)
 ((Kritika.Lamba@thomsonreuters.com))