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Samsung makes bid for SanDisk

September 17, 2008|From Times Wire Services

Samsung Electronics Co. made a $5.85-billion hostile bid for SanDisk Corp. of Milpitas, Calif., in what would be the South Korean company's biggest acquisition.

Samsung offered $26 in cash for each SanDisk share, or 73% more than the memory-card maker's latest closing price. SanDisk's board rejected the offer.

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