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Bloomberg reports Synaptics (NASDAQ:SYNA) is "moving closer" to a deal to be acquired by a state-backed Chinese investment group for over $110/share (about $4B). Shares have soared above $84 in response.
- A deal could reportedly be reached in early March, following the Chinese New Year. In September, Bloomberg reported Synaptics rejected a $110/share buyout offer from a Chinese group. U.S. regulators have often closely vetted acquisitions of American companies by Chinese firms.
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Earlier today: Oppenheimer downgrades Synaptics on smartphone concerns