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Samsung Withdrew from SanDisk Bid |
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Wednesday, 22 October 2008 |
 I’m not pretty sure what is happening here. 6 months ago, Samsung unveiled their masterplan in a hostile takeover by bidding a $6 billion dollars deal with SanDisk but it seems SanDisk’s board of directors weren’t happy with the deal. As the result, Samsung announced today, that they would be withdrawing themselves over the hostile takeover. Here’s a press release from Samsung:
"Your surprise announcements of a quarter billion dollar operating loss, a hurried renegotiation of your relationship with Toshiba and major job losses across your organisation all point to a considerable increase in your risk profile and a material deterioration in value, both on a stand-alone basis as well as to Samsung."
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