Samsung launches hostile bid for SanDisk

The Korean chaebol tries to turn market turmoil to its advantage, putting forward a $5.85 billion offer which the US flash memory supplier has already rejected as inadequate.

Samsung Electronics has launched a hostile takeover of US-based flash memory supplier SanDisk Corporation, taking its offer directly to shareholders amid frustration that SanDiskÆs management is holding out for a higher price. Samsung is offering $26 per share, a premium of 80% to SanDisk's closing price on Nasdaq on Monday.

The potential $5.85 billion MA deal shows that although the financial crisis in Europe and the US is reaching new depths, it is still business...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...