Shares of Swiss keyboard and webcam manufacturer Logitech International (LOGI) jumped in pre-market trading after the company ended discussions to buy Plantronics (PLT), which makes Bluetooth earpieces and gaming headsets.

DEAL TALKS ENDED: In a statement issued on Sunday, Logitech confirmed that it had been engaged in discussions with Plantronics about a potential transaction, but that the discussions were terminated. According to a Reuters report, Logitech had been in talks to buy Plantronics for up to $2.2B, which would mark its biggest acquisition to date. In a statement of its own, Plantronics also confirmed the talks and said Logitech had approached the company regarding a potential acquisition. Joe Burton, president, and chief executive officer of Plantronics, said in a statement that “We have made great progress preparing the company for the next phase of profitable growth, and we are very well positioned to successfully achieve our long-term strategic goals, as demonstrated by our strong second quarter 2019 results. We have seen very strong feedback from customers and partners, launched products across multiple categories in our first quarter post-close — including innovative analytics offerings that integrate deeply with our endpoints — and in September we increased both our long-term financial targets and our cost synergy targets related to our acquisition of Polycom”. Burton added, “I have been and remain tremendously optimistic about the opportunity in front of us, and with our focused strategy and leadership team, I am confident that Plantronics will create significant long-term value for shareholders”.

PRICE DISAGREEMENTS: Reuters reported on Sunday, citing a source close to the company, that Logitech’s board ended the talks over price disagreements. Three sources said that this was despite Plantronics “having opened its books to Logitech on the basis of an offer by Logitech that was well in excess of $3B”.