Razer Sinks As $3.2 Billion Buyout Bid Disappoints Investors (1)

Razer Inc. slid more than 13% after its co-founder and CVC Capital Partners proposed taking the gaming gear maker private for about $3.2 billion, less than some investors had anticipated.

The group, which includes Chief Executive Officer Min-Liang Tan and board member Kaling Lim, proposed taking Razer private for HK$2.82 ($0.37) a share, about a 5.6% premium to its previous close. The consortium will evaluate a possible relisting of the company in the U.S. if the privatization goes through, Bloomberg News reported in November.

Razer’s slide on Thursday suggested investors had been holding out for a better offer price. ...