Tuesday September 9, 5:02 pm ET
SanDisk shares fall, Lazard analyst says buyout by Samsung is 'unlikely'
NEW YORK (AP) -- Shares of SanDisk Corp. continued to slide Tuesday after an analyst said a buyout of the company by South Korea's Samsung Electronics Co. is "unlikely."
SanDisk's shares shot up 31 percent last Friday after a South Korean online business newspaper reported that Samsung is pursuing a takeover of the Milpitas, Calif.-based company. Samsung and SanDisk neither confirmed nor denied the report.
Samsung makes $5.85 billion bid for SanDisk
Flash-memory firm rejected earlier offer; Samsung 'compelled' to go public
By Dan Gallagher, MarketWatch
Last update: 6:27 p.m. EDT Sept. 16, 2008SAN 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.
Shares of SanDisk surged more than 50% in after-hours trading on Tuesday
I love it when a plan comes together..
tb
