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Logitech on the up amidst Microsoft bid talk

In the world of computer users, there are two types of mouse and keyboard users – those who prefer Microsoft and those who prefer Logitech. Oddly enough, Microsoft itself may prefer Logitech as stock traders speculated that the software giant would launch a takeover bid for the Swiss-based peripherals maker.

Shares of Logitech surged up to 12 percent based on the trader talk, despite comments from Logitech’s Daniel Borel expressing no desire to sell his stake in the company.

"I am a co-founder of Logitech. Would you be willing to sell your child?" Borel told Reuters in an interview. "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."

Buzz circulated in the market that Microsoft prepared a takeover bid of 48 francs per share for Logitech. "Rumours are rumours. I can't make any specific comment on them," Borel added.

Not everyone believes that the Logitech shares jump is a result of an impending takeover. "Today's share price rise is probably more related to a rebound in the market than any rumours," said an analyst at bank Vontobel.

Furthermore, even if Microsoft were interested in buying Logitech, the company would first need to overcome antitrust regulatory issues.

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Up 12%?
By skyyspam on 1/11/2008 3:41:52 PM , Rating: 2
It's down nearly 8%. Hrm.

RE: Up 12%?
By gramboh on 1/11/2008 3:50:36 PM , Rating: 2
So whoever was creating the rumour and buying a bunch earlier in the day sold their position and it came back down :)

RE: Up 12%?
By TomZ on 1/11/2008 3:51:44 PM , Rating: 1
The broader market's down pretty bad today, so even if there was positive news and/or speculation, the stock might still be down.

RE: Up 12%?
By Griswold on 1/11/2008 4:16:29 PM , Rating: 1
Thats because DT is (once again) a day late. This is yesterdays news.

RE: Up 12%?
By Griswold on 1/16/2008 10:58:51 AM , Rating: 1
And whoever the clueless fuck is who rates factual postings down: nya-nya-nya.

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