(Reuters) – Dialog Semiconductor Plc said on Tuesday it has ended discussions with Synaptics Inc about a potential acquisition of the U.S. touch-pad technology company, without citing a reason.
FILE PHOTO: Dialog semiconductor logo is pictured at a company building in Germering near Munich, Germany August 15, 2016. REUTERS/Michaela Rehle/File Photo
Deal talks collapsed after Synaptics balked at the proposed terms, including the price offered, a source familiar with the matter said.
Uncertainty over whether China would approve the deal, after upending U.S. chip maker Qualcomm’s $44 billion acquisition of Dutch-based peer NXP Semiconductor through a protracted antitrust review, was not a concern, the source said.
Synaptics said it has disengaged from talks with Dialog.
“We are very confident in our strategy and will continue to execute on our strategy to grow and diversify our business independently,” Synaptics said in a statement.
Reporting by Greg Roumeliotis in New York and Rama Venkat Raman in Bengaluru; Editing by Sandra Maler and Grant McCool