SanDisk has rejected an unsolicited $5.85 billion acquisition offer from Samsung as “an opportunistic attempt to take advantage of SanDisk’s current stock price, which is significantly depressed given industry cyclicality,” the company’s board of directors said.

By any measure, the current market value of the world’s largest supplier of flash memory cards for cameras, smartphones and other consumer devices “is in a deep reduction compared to a few months ago,” noted Nam Hyung Kim, chief analyst and director

at iSuppli. “It should be a good date for the big players such as Samsung and Toshiba to acquire the world-class flash storage player.”

Best in the World

According to iSuppli, Samsung led the NAND flash memory market in the second quarter of 2008 with a 42.3 percent market share, followed by Toshiba at 27.5 percent and Hynix at 13.4 percent. “SanDisk is the No. 1 flash storage maker of cards […]

Orginal post by dhiram