Network Associates seals McAfee deal

Computer security company Network Associates said Friday it has completed an exchange offer and now owns 96 percent of the shares of McAfee.com, signaling that the long-negotiated acquisition is nearly closed. Network Associates, which in mid-August sweetened its bid for the 25 percent of McAfee.com it did not already own, said that the exchange offer ended at midnight Thursday and that a total of 10.39 million McAfee.com shares were tendered for exchange.

Combined with Network Associates' previous majority stake in antivirus company McAfee.com, it now holds about 96 percent of the smaller company. Network Associates was once the parent company of McAfee.com. --Reuters