BUSINESS
Microsoft eyeing up Logitech?
11-01-2008
by Emmet Ryan
Microsoft appears to be keen to buy Swiss computer peripherals firm Logitech but it might hit a snag or two on the way.
It's been reported that the Redmond-based IT giant is poised to make an USD8 billion bid for Logitech but the Swiss firm's co-founder and chief shareholder, Daniel Borel, is likely to ignore any advances made by Microsoft. "I am a co-founder of Logitech. Would you be willing to sell your child?" Borel told Reuters.
While he remains personally opposed to the deal, Borel said the final decision does not rest with him.
"I have no reason to sell. But I will not be the one to decide. I own only some 6 percent so I will neither enable nor prevent a sale of Logitech. At the end, the shareholders will be the ones who will decide if they want to sell," he said.
Despite the strong objections raised by Borel and doubts cast by analysts on the likelihood of a deal taking place, shares in Logitech have soared on the back of the speculation, rising 12 percent on the Swiss Exchange.
If the deal is to go through it will have more than Borel's objections to overcome. Reports on Friday suggest that a Logitech takeover by Microsoft could face antitrust-related complications which could well scupper any potential purchase by the Redmond-based firm.
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