Deals
Synaptics Said Closer to Deal With China-Backed Investor
- Technology company rejected $110/shr bid from suitor last year
- Deal said to be possible in early March after Chinese New Year
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Synaptics Inc., the maker of touch-screen technology used in mobile devices and computers, is nearing an agreement to be bought by a state-backed Chinese investment group that values the company at more than $110 per share, according to people familiar with the matter.
A deal could be reached in early March after the Chinese New Year, according to the people, who asked not to be named because the negotiations are private. Synaptics, based in San Jose, California, rejected a $110-per-share offer last year, a 70 percent premium to where the company was trading at the time.