This was first reported a couple weeks ago, and now it’s official… Korean electronics giant Samsung has made a $26 per share bid for memory card maker SanDisk (NSDQ: SNDK). In a statement, Samsung says it is “deeply disappointed” that after four months of negotiations, SanDisk has not agreed to a deal on friendly terms. The offer, which Samsung says is not contingent on any financing terms, represents a more than 80 percent premium to SanDisk’s September 15th close.
Updated: SanDisk has rejected the $5.85 billion takeover offer after its board determined the deal was “inadequate in multiple respects,” the company said. It said Samsung had indicated that “it might be willing to pay a significant premium” to SanDisk’s closing price of $28.75 per share on May 22, 2008, which it said was the date Samsung first approached SanDisk about a possible deal, reports AP. Much more at paidContent.org…
{"source":"https:\/\/gigaom.com\/2008\/09\/16\/419-samsung-officialy-makes-26-per-share-offer-to-sandisk-deeply-disappoint\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_24bd81374f276f2e28179e2c3eba55a9","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}