Synaptics reportedly rejected $110/share buyout offer; shares +22.5% (updated)

• Bloomberg reports Synaptics (NASDAQ:SYNA) rejected a $110/share bid from a Chinese investment group. Shares have soared above $79 in response.
• The report comes on a morning in which Western Digital announced an investment from Chinese firm Unisplendour. Chipmakers receiving Chinese takeover bids (with varying degrees of success) include Integrated Silicon, OmniVision, and Micron.
• Update (11:28AM ET): Synaptics has pared its gains: Shares are now up 11.2%.
• Update 2 (3:36PM ET): Synaptics has shot higher again. Shares are up 27.6%.