Following recent rumours to have surfaced in relation to an alleged $8 billion takeover bid by Microsoft to swallow up its number one rival in the input device market, Logitech; we're now hearing it from the horse's mouth that this would simply be 'an operation without sense'.
During an interview for an Italian newspaper yesterday, Logitech's chairman Guerrino De Luca came forward with the above statement, reiterating the fact that without competition Logitech would lose all incentive to innovate, something they're reknowned for doing exceptionally well.
Moreover, there would be problems from antitrust authorities seeing as the two companies together would have a virtual global monopoly in mice and keyboards.
Head over to Reuters for the full story.
MILAN (Reuters) - Any takeover bid for peripherals maker Logitech International SA (LOGN.VX: Quote, Profile, Research) by Microsoft Corp (MSFT.O: Quote, Profile, Research) would be "an operation without sense", Logitech's chairman was quoted as saying in an Italian newspaper on Sunday.
Shares in Swiss-based Logitech rose in January based on speculation Microsoft would launch a takeover bid. Analysts dismissed rumours of an $8 billion (4 billion pound) takeover bid and Logitech board member Daniel Borel, the company's largest shareholder, said he had no reason to sell his stake.