SanDisk (SNDK)

SanDisk (SNDK)

Postby blid2def » Wed Sep 17, 2008 10:32 am

Ugly URL, shortened: http://tinyurl.com/6mcgvq

Extract here; visit the MarketWatch site for full report.

Samsung makes $5.85 billion bid for SanDisk
Flash-memory firm rejects offer, says it 'does not provide appropriate value'
By Dan Gallagher, MarketWatch
Last update: 7:19 p.m. EDT Sept. 16, 2008

SAN FRANCISCO (MarketWatch) -- Samsung Electronics said late Tuesday that it has offered to acquire SanDisk Corp. for about $5.85 billion, capping several days of speculation about a potential combination of the two companies.

In a letter to SanDisk, Samsung said it was reiterating a previous offer to buy the company for $26 per share in cash, in a deal that would not be contingent to financing arrangements.

But SanDisk rejected the deal in its own statement Tuesday.

SanDisk Chief Executive Eli Harari said that Samsung's acquisition offer "does not provide appropriate value to our stockholders and is opportunistically timed at the trough of an industry-wide downturn."

Samsung had said in its letter that it's "deeply disappointed" that SanDisk "continues to cling to unrealistic expectations on both its standalone market value and an appropriate merger price." The letter said the two companies have been in talks for the past four months.

Shares of SanDisk surged more than 50% in after-hours trading on Tuesday, to $22.85. The stock had closed the regular session up 4.4% at $15.04.
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Re: SanDisk SNDK

Postby iam802 » Wed Oct 22, 2008 10:05 am

It's gone.

Samsung Electronics Scraps Plans to Acquire SanDisk

http://www.bloomberg.com/apps/news?pid= ... refer=home

...

``After nearly six months of efforts to pursue a transaction with no meaningful progress, we are withdrawing our proposal to acquire SanDisk,'' Lee Yoon Woo, Samsung's chief executive officer, wrote in a letter to SanDisk Chief Executive Officer Eli Harari ``We squarely face the growing uncertainties in your business, which may continue to deteriorate in this difficult economic environment and further impact your standalone value.''

...
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Re: SanDisk (SNDK)

Postby blid2def » Wed Oct 22, 2008 10:17 am

In other words, "we'll wait till your share price collapse further, then make you a cheaper offer..."
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Re: SanDisk (SNDK)

Postby iam802 » Wed Aug 18, 2010 11:43 pm

Sandisk's 64GB integrated SSD is no bigger than a wafer-thin mint

Image

http://www.engadget.com/2010/08/18/sand ... -thin-min/
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Re: SanDisk (SNDK)

Postby winston » Wed Sep 23, 2015 7:32 pm

not vested

Tech Bargain No. 3: SanDisk Corp. (Nasdaq: SNDK)

The Silicon Valley's SanDisk Corp. (Nasdaq: SNDK) remains the leading maker of flash memory for electronic devices – cameras, mobile phones, laptops, and tablets, just to name a few.

But it's the company's long-term vision that's so exciting. You see, SanDisk intends to become a major player in data centers for cloud computing.

Last year, it acquired cloud data storage firm Fusion-io. And among its all-star client list are heavy hitters like Apple and Facebook Inc. (Nasdaq: FB).

Companies are moving to flash storage because data can be retrieved about 20 times faster than from conventional hard disk drives. IDC says companies will spend more than $40 billion in 2015 on storage hardware alone.

With a roughly $11 billion market cap, SanDisk TRADES at $53.

It has 17% operating margins and last year generated more than $1 billion in free cash flow.

Source: Money Morning
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