Sandisk refuses bid made by Samsung

The specialist Sandisk Flash memory has refused an offer to purchase made by the South Korean Samsung. The latter, however, Sandisk valued at 5.85 billion dollars, an amount almost twice its market capitalization at the beginning of September, before beginning to sweat rumours about this attempted acquisition.

According to Sandisk, Samsung’s proposal is not in line with the actual business. Eli Harari, CEO of the American firm, has also expressed regret that his competitor is trying to force the redemption of an opportunistic basis in a period of slowdown for the industry. As for Samsung, one regrets that the direction of Sandisk continues to cling to a “recovery unrealistic.”

According to analysts iSuppli, Sandisk is now the largest buyer of Flash memory modules in the world, memories it obtains from manufacturers like Samsung and Toshiba to equip its Walkmans, disks and memory cards DSS. The firm is not better: Cap, its price has unscrewed by 59% since the beginning of the year.

It also reported losses amounting to 67.9 million over the second quarter of the year. A $ 26 per share, offer redemption made by Samsung accounts for Sandisk shareholders a premium of 80% compared to the price of the close of trading Monday evening.

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