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Logitech’s talks to acquire Plantronics failed

By Cookie Monster - on 27 Nov 2018, 12:00am

Logitech’s talks to acquire Plantronics failed

Over the weekend, Reuters reported that Logitech was offering more than US$2.2 billion to acquire Plantronics and talks were ongoing. Well, the deal isn’t going to happen after all. 

In accordance to Swiss disclosure requirements and media queries, Logitech issued a press release stating that “those discussions were terminated”. While there is no official reason on why talks broke down between the two companies, Reuters’ source claims to know why. 

Apparently, Logitech withdrew from the talks over price disagreements. Plantronics also reportedly provided details of its financials to Logitech’s board on the basis of an offer that was in excess of US$3 billion. 

On the other hand, Plantronics stated that it was approached by Logitech over a possible acquisition and had entered talks in line with its fiduciary duties. Although the talks have failed, Plantronics reaffirmed its goal to “deliver on its strategy” as an independent company. 

Source: Logitech, Reuters