Sandisk’s Yahoo: Memory loss

Sandisk has pulled a Yahoo. The flash memory maker’s unwanted suitor, Samsung, has pulled its $5.9bn bid for the company. Sandisk played hard-to-get and recently received a $1bn injection from Toshiba that shored up its balance sheet and appeared to up its negotiating leverage. Instead, it gave Samsung an out – which given a 30% fall in the won and Sandisk’s weak earnings – it might have wanted. Samsung’s $26 per share offer carried a hefty 93% premium to Sandisk’s undisturbed share price. But ...