Samsung renounced intentions to buy SanDisk

 
October 22, 2008, 5:11 pm

 
samsung renounced intentions to buy sandisk   The company Samsung has announced its decision to cease attempts to purchase the company SanDisk, lasted for the past six months. SanDisk proposed 5, 85 billion dollars, but that has not adopted such conditions. Now Samsung SanDisk describes the situation as too risky, while referring to unexpected operating loss of a billion dollars in the last quarter, significant staff reductions that have taken place in recent times, and a hasty revision of the relationship with Toshiba.
Both companies expressed regret over the failed deal. Samsung said that combining the companies could provide an unprecedented global technology platform to drive the convergence market. SanDisk, in turn, lamented the fact that Samsung underestimated the potential benefits that would have earned with the purchase. According to SanDisk, during the negotiations Samsung hardly listens to the second side to explain the reasons for disagreement with the proposed terms of the transaction. At the same time, SanDisk has expressed willingness to consider selling the company for the right money and the right way.

 

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