Deals
Synaptics Said to Shun $110-a-Share Bid From China Investor
- Proposal reflects 70% premium to Synaptics close Tuesday
- Company makes touch-screen technology for Samsung, Apple
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Synaptics Inc., the maker of touch-screen technology used in phones, tablets and computers, rejected an offer from a state-backed Chinese investment group that valued the company at almost $4 billion, people with knowledge of the matter said.
The group bid $110 per share for San Jose, California-based Synaptics, said the people, who asked not to be identified because the information is private. That reflects a 70 percent premium to the company’s closing share price Tuesday. Synaptics isn’t interested in selling at that level, one of the people said, and may be holding out for as much as $125 a share. Talks between the buyer and Synaptics are ongoing, the people said.