SanDisk Rejects Samsung’s Offer of Purchase
Earlier this month, we caught word that Samsung wanted to buy SanDisk. Samsung figured that since it was paying so much in royalties each year anyway, it would make good business sense to just buy SanDisk and proceed to enjoy flash memory domination. Unfortunately, SanDisk isn’t feeling it.
We thought that Samsung’s buyout of SanDisk was imminent, but it turns out that the latter is not interested in being bought. On the whole, the flash memory market is down right now and that partly explains why SanDisk stock is currently undervalued. As a result, Samsung’s offer is quite a bit lower than what SanDisk would want before succumbing to the Korean giant.
It’s probably for the best. The Samsung-SanDisk conglomerate would just hike flash memory prices, methinks, and that’s not good for the end consumer (i.e., me).