Microsoft interested in acquiring Logitech?

Posted on Thursday, Jan 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


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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