Chinese group proposes to buy U.S. chipmaker OmniVision

(Reuters) - U.S. digital imaging chipmaker OmniVision Technologies Inc said it received a buyout proposal from a group of investors led by China's Hua Capital Management Ltd. The proposed offer price of $29 per share in cash values OmniVision at $1.67 billion and represents a premium of 17.9 percent to the stock's Wednesday close. OmniVision shares touched a high of $28.10 in early trading on the Nasdaq. The investment group includes state-owned Shanghai Pudong Science and Technology Investment Co Ltd, OmniVision said. The company's chips are used in smartphone and tablet cameras, including Apple Inc's iPhones.



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