Am I bothered?
Korean electronics giant Samsung made an unsolicited bid of $26 per share to buy all outstanding shares in flash memory outfit Sandisk a month or so ago and Sandisk told Samsung where to shove its offer.
Now, after Sandisk reported a loss for the last quarter, Samsung has decided it doesn't want it anyway and has withdrawn the rejected offer.
"The decision to withdraw the proposal to acquire SanDisk Corporation at $26 per share was made in considerations of the growing uncertainties in SanDisk's business, its stand alone value, and the current difficult economic environment," said a Samsung statement.
Sandisk also passed comment, saying that Samsung's reluctance to negotiate after Sandisk's initial rejection "raises questions about the real motivations behind Samsung's offer."
Sandisk's share price is currently $14.76, having last been above $26 in June.
