Posted on Thursday, January 10 2008 @ 16:42 CET by Thomas De Maesschalck
Shares of peripheral maker Logitech went up 12 percent today on speculation that Microsoft would launch a takeover bid:
But board member Daniel Borel, who is the group's largest shareholder, said he had no reason to sell his 6 percent stake and declined to comment on the market speculation.
"I am a co-founder of Logitech. Would you be willing to sell your child?" Borel told Reuters in an interview.
"I have no reason to sell. But I will not be the one to decide. I own only some 6 percent so I will neither enable nor prevent a sale of Logitech."
Traders said rumors circulated that Logitech, which has a market capitalization of around 7 billion Swiss francs ($6.3 billion), would receive a takeover bid at 48 francs per share from Microsoft.
This would represent a premium of 38 percent to Wednesday's closing price of 34.80 francs and value the firm at 9.16 billion francs.
Source: Reuters
