Samsung makes a hostile bid for SanDisk

Nilay Patel
N. Patel|09.16.08

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Samsung makes a hostile bid for SanDisk

We'd heard rumors Samsung was wooing SanDisk, but it looks like the four-month courtship is over -- Samsung just announced that in response to SanDisk's "unrealistic expectations" during negotiations, it's going hostile and will offer $26/share for the company. That's bound to cause some waves in the storage industry, especially since Toshiba and Seagate were also rumored to be interested in SanDisk. We'll see what happens -- things always get a little crazy when there's nearly six billion dollars in cash on the table.

[Thanks, Marshall84]

Update: SanDisk's board rejected the bid unanimously, saying the bid undervalues the company and is, like, totally uncool, man.

Read - WSJ article
Read - Samsung letter to SanDisk
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