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Samsung enters hostile takeover bid for Sandisk

The consumer electronics giant entered an unsolicited bid to purchase the flash-memory powerhouse.

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Computing | by Randall Bennett | Wed Sep 17, 2008 8:07AM | 1 comment

Korean consumer electronics giant Samsung has submitted an unsolicited $5.9 billion public bid to purchase memory manufacturer SanDisk, after SanDisk's board unanimously rejected Samsung's initial private offer. Samsung says the two companies negotiated privately for four months with the last unsuccessful bid coming through on Monday. Samsung is now offering to buy the company for $26 per share, a 50% premium over SanDisk's $13.46 price before word was leaked to the media of the merger talks. The flash memory market is currently in a downward trend, however, as SanDisk's 52-week high is nearly $56 per share.

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Dorie P. (1:11 AM on Sat Sep 27, 2008)

I can't imagine why the flash memory market is headed downward. As long as I keep losing them, I guess I'll keep buying them. What technology is taking over for portable file storage devices? Is it multi-purpose devices like iPods?

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