Samsung Officially Makes $26 Per Share Offer To Sandisk; ‘Deeply Disappointed’ Not To Have Agreement

imageThis was first reported a couple weeks ago, and now it’s official… Korean electronics giant Samsung has made a $26 per share bid for memory card maker SanDisk (NSDQ: SNDK). In a statement, Samsung says it is “deeply disappointed” that after four months of negotiations, SanDisk has not agreed to a deal on friendly terms. The offer, which Samsung says is not contingent on any financing terms, represents a more than 80 percent premium to SanDisk’s September 15th close.

Updated: SanDisk has rejected the $5.85 billion takeover offer after its board determined the deal was “inadequate in multiple respects,” the company said. It said Samsung had indicated that “it might be willing to pay a significant premium” to SanDisk’s closing price of $28.75 per share on May 22, 2008, which it said was the date Samsung first approached SanDisk about a possible deal, reports AP. Much more at