Samsung Makes Hostile Bid for SanDisk

Bloomberg reports that Samsung Electronics Co., the world’s second-largest chipmaker, made a $5.85 billion hostile bid for SanDisk Corp. to “widen its lead in the market for semiconductors that store pictures and music in cameras and mobile phones.”

If successful, Samsung’s bid (the largest ever in the history of its company) would widen its lead over Toshiba in the highly competitive flash memory market. SanDisk has already rejected the offer, saying that it “significantly undervalues the company’s long-term prospects.” Either way you look at it, owning SanDisk would make it a lot easier for Samsung to craft phones with built-in flash storage for mobile media.

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