Veteran computer peripherals maker, Logitech, may be in the frame for being taken over by Microsoft, market rumours claim.
Reuters reports shares in the company climbed yesterday on speculation that the larger firm may make a bid to buy the Switzerland-based company, with speculation indicating a hefty $8 billion price tag on the firm.
While analysts later dismissed the notion as no more than a rumour, and the company's largest shareholder, company co-founder Daniel Borel, indicated he has no reason to sell his 6 per cent share of the company stock, the speculation seems to have stuck.
Trading speculation claims Logitech will receive a takeover bid at 48 francs per share from Microsoft, a premium of 38 percent to Wednesday's 34.80-franc closing price, meaning Logitech would have a value of 9.16 billion francs.
Logitech shares currently stand at $33.07, up $2.01 on these reports.