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Samsung snubs SanDisk

22 October 2008 | By Mark Osborne | News > Fab Management

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SanDiskCiting quarterly losses, redundancies, overall business risks and a falling share price for SanDisk, memory giant, Samsung Electronics, has withdrawn its offer to purchase SanDisk for $26 per share in cash. Yoon Woo Lee, Samsung’s Vice Chairman & CEO, noted in a letter to Eli Harari, Chairman and Chief Executive Officer at SanDisk that he was disappointed that after almost six months of working on a deal no meaningful progress had been made.

However, SanDisk responded to Samsungs offer withdrawal, saying that SanDisk’s Board had remained open to a transaction but one that fully valued the company.

Harari also noted in a conference call this week that Samsung has yet to renew IP patent licenses for NAND flash devices.

“Samsung stands to gain enormous value from owning our patents and our know-how; in particular, the hundreds of second generation patents for mobile storage that we developed in-house or acquired in the past decade,” noted Harari. “These second generation patents extend well into the next decade, and therefore the intrinsic value to Samsung is highly strategic and long-term.”

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Samsung Electronics in talks to acquire SanDisk - 05 September 2008

Samsung offers $5.85 billion for SanDisk after initial rejection - 17 September 2008

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Reader comments

For semiconductor market vendors it is good news that Samsung is not buying the SanDisk.
By Semi on 22 October 2008

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