FireEye Inc hired Morgan Stanley to explore a sale but has since rejected at least two takeover offers this year – including one from Symantec Corp – 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, California-based FireEye shares closed 4 percent higher at $16.05 on Wednesday, valuing the company at about $2.66 billion.
FireEye’s discussions with Symantec, the maker of Norton antivirus software, stopped in early February and its talks with another buyer stalled in late March, Bloomberg reported.
FireEye was not immediately available for comment. A Symantec spokeswoman said the company did not comment on speculation or rumors.
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 percent this year.