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Sandisk has said no to Samsung’s offer which the company sees as a hostile bid.
Samsung is offering £2.5bn or $5.9bn for Sandisk takeover, however, the deal was turned down by the world’s largest memory card manufacturer. Sandisk claims that Samsung’s $26 per share offer is substandard and undervalued.
Sandisk is continually recovering from the flash industry’s downturn which started in 2007. However, the company is deemed in better shape compared to its rivals due to its manufacturing cost advantages and its valuable trove of intellectual property.
