Samsung launches takeover bid on Samsung

Posted on Wednesday, September 17 2008 @ 1:18 CEST by Thomas De Maesschalck

Marketwatch reports South-Korean electronics giant Samsung has launched a takeover bid of $26 per share on SanDisk:

In a letter to the U.S. company's board of directors, the largest producer of flash-memory chips in the world said its proposal can be funded with cash on hand and available financing. According to the statement, SanDisk had informed Samsung earlier this week that its offer was not sufficient.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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