Wednesday, October 22, 2008

Samsung Withdraws Bid For Sandisk

Samsung has withdrawn its proposal to acquire launched a public bid for $26 per share in cash last month. The memory card maker rejected the bid right after, and it was only a matter of time before Samsung had to cave in, considering the current economic climate (not conducive to public takeovers), and of course SanDisk’s less-than-stellar earnings yesterday.

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