Samsung walks away from SanDisk deal

I just posted the article Samsung walks away from SanDisk deal.

Samsung Electronics today dropped its $5.9 billion takeover offer of SanDisk, claiming the global credit turmoil and bleak economic growth outlook are the reasons behind the withdrawal."We…

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What a shame for SanDisk…

The board wanted more money to have a bigger payday, while it seems a decent number of SanDisk shareholders wanted to see the deal go through.

The economy, along with the price of flash memory, has tanked and ultimately hurt SanDisk quite a bit. SanDisk shares are $10 each right now!

SanDisk just posted a huge loss and layoffs are around the corner. Good day for Samsung, bad day for SanDisk.