Newport Electronics, a Santa Ana manufacturer of...

Newport Electronics, a Santa Ana manufacturer of digital instruments, has rejected a $9.4-million buyout offer, according to InterVen Partners, the Los Angeles venture capital firm that made the offer 3 weeks ago. InterVen partner David Jones said Friday that shortly before the $8.50-per-share offer was to expire at 5 p.m., an attorney representing Newport Electronics told him that the company was still considering an earlier offer of $8 per share from Sensor Control Corp. of Sunnyvale. “We are mystified that they would let this offer lapse to allow another company time to put together another deal at a lower price,” Jones said. Officials at Newport Electronics could not be reached for comment Friday.