So Much for SamDisk
by John Paczkowski
Posted on September 4, 2009 at 5:57 AM PT
It was fun while it lasted, but Samsung has abandoned its bid to buy SanDisk. In a regulatory filing made nearly a year after its $5.85 billion offer for SanDisk (SNDK) was rejected as too low, Samsung officially called off the effort, which, had it been successful, would have combined two of the largest flash memory producers into a single NAND monstrosity that would have dominated the industry.
“We are no longer planning to pursue the acquisition as there has been no progress since we withdrew our offer as of Oct. 22, 2008,” the company said in a filing with the Korea Exchange. The announcement comes after the two companies inked a new seven-year NAND flash-memory license agreement, one that will see Samsung paying about half the royalty amount it paid previously.
