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Samsung launches takeover bid on Samsung

Posted on Wednesday, September 17 2008 @ 01:18:59 CEST by

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.



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