Chipmaker Synaptics rejects Chinese firm's offer: Bloomberg

Touchscreen chip maker Synaptics Inc rejected an offer from a Chinese investment group valuing the company at nearly $4 billion, Bloomberg reported on Wednesday.The Chinese state-backed group bid $110 per share for Synaptics, Bloomberg reported, citing people familiar with the matter. The offer price is a near 70 percent premium to Synaptics' Tuesday close. The company's shares rose as much as 26 percent to $81.86 on Wednesday. Synaptics is not interested in selling at that level, one person told Bloomberg, and added that Synaptics might be holding out for a bid as high as $125 per share.A $125 per share bid would value Synaptics at $4.5 billion, based on the company's outstanding shares on Aug. 14. The Bloomberg report did not name the Chinese company.A Synaptics spokesman declined to comment. Earlier on Wednesday, U.S. data storage company Western Digital Corp said a unit of Tsinghua Holdings Co Ltd would buy a 15 percent stake in the company for $3.78 billion. (Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)