Shares of San Jose based touchscreen maker Synaptics soared 27 percent on a published report Wenesday that a state-backed Chinese investor group has offered nearly $4 billion for the firm.
The report by Bloomberg quoted sources as saying Synaptics has shunned the offer.
Synaptics closed Wednesday at $82.46 a share, a leap of slightly more than 27 percent from the previous day s close.
The company makes mobile computing touch-screens including a touch-sensitive pad that allows a person to control cursor movement with a finger. Its products include ClearPad, TouchPad and ClickPad, as well as Natural ID fingerprint authentication technology for smartphones, tablets and notebook coputers.
The unnamed investor group bid $110 per share, Bloomberg said, quoting people who asked not to be identified.
That would a 70 percent premium over the closing share price on Tuesday.
Synaptics may be holding out for as much as $125 a share, Bloomberg said quoting sources.
If true, it would only be the latest attempt to acquire U.S. tech companies by Chinese investor groups, which have been spurred on by a massive Chinese government effort to ramp up that country s semiconductor and tech industries.
Summitview Capital, a China-based investor group, acquired Integrated Silicon Solution Inc in June for $765 million, besting an competing offer from Cypress Semiconductor. The vehicle for the purchase was Uphill Investment.
Another Chinese group with state connections bought Omnivision, which makes digital imaging chips, in April.
Photo: Synaptics logo
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