Photo: Cristina Arias/Cover/Getty Images)

NortonLifeLock, a consumer cybersecurity software maker, has received takeover interest from rival McAfee, per the WSJ. The private equity pairing of Advent International and Permira also may bid.

Why it matters: Because any deal would involve big dollars — NortonLifeLock's market cap is nearly $16 billion — and a complex backstory.

Background: NortonLifeLock is the consumer business of what was known as Symantec, before it recently sold its enterprise business to Broadcom.

  • Activist investor Starboard Value has a 7% stake in NortonLifeLock and a board seat.
  • Advent and Permira originally offered to buy Symantec in its entirety and then do the enterprise sale to Broadcom, but were denied.
  • Both the PE firms and Broadcom also once flirted with acquiring the entire Symantec business.
  • Then there's McAfee, whose owners are TPG Capital, Thoma Bravo, and Intel. It's toyed with going public, but also could do a similar consumer/enterprise split, with the consumer piece boosted by NortonLifeLock.

The bottom line: "Symantec had spent about $7 billion in recent years on two high-profile acquisitions, cloud-security company Blue Coat, and LifeLock, that were met with initial enthusiasm from investors. But those deals did little to jump-start growth, prompting Starboard—and now potential buyers—to get involved." — WSJ

Go deeper:

Go deeper

Biden releases 2019 tax returns ahead of debate

Photo: Alex Wong/Getty Images

Joe Biden's campaign released his 2019 tax returns on Tuesday, showing that he and his wife, Jill, paid nearly $300,000 in federal taxes last year.

Why it matters: The release, timed just hours before the first presidential debate, comes days after a bombshell New York Times report said that President Trump paid only $750 in federal taxes in 2016 and 2017. Biden's team is hoping to make the tax contrast a sticking point during their showdown.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2:15 p.m. ET: 33,454,037 — Total deaths: 1,003,571 — Total recoveries: 23,204,219Map.
  2. U.S.: Total confirmed cases as of 2:15 p.m. ET: 7,165,067 — Total deaths: 205,476 — Total recoveries: 2,794,608 — Total tests: 102,342,416Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. States: NYC's coronavirus positivity rate spikes to highest since June.
  5. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  6. World: U.K. beats previous record for new coronavirus cases.

NYC's coronavirus positivity rate spikes to highest since June

New York Mayor Bill de Blasio. Photo: Noam Galai/Getty Images

New York City's coronavirus positivity rate has ticked up to 3.25%, its highest since June, Mayor Bill de Blasio said at a news conference on Tuesday.

Why it matters: The jump — from 1.93% on Monday — came on the first day that public elementary classrooms reopened in the city after months of closures, but guidelines state that all public schools will have to shut if the citywide seven-day positivity rate stays above 3%.