An investor group consisting of Kohlberg Kravis Roberts, Apax Partners, Bain Capital, and Silver Lake Partners said late Monday it has ended discussions with Freescale Semiconductor about a possible acquisition of the company.

Freescale accepted a bid late Friday to be bought out in a $17.6 billion deal by a private equity consortium led by Blackstone Group that valued Freescale $40 a share.

Analysts had speculated, in part due to the preliminary agreement that allowed Freescale to field competitive offers, that the

KKR-led group would respond with a higher offer.

Freescale was reportedly entertaining a rival offer from KKR last week, but ultimately settled on the Blackstone bid.

Shares of Freescale closed Monday up $2.10, or 5.7%, to $39.26.