Sandisk, Samsung and Toshiba: the end?
Yesterday, Samsung officially withdrew the offer to buy out 100% of Sandisk shares at a price of $ 26.
In a rather snide open letter that Samsung Electronics CEO Yun Woo Lee (이윤우) signed, after expressing regret for the perseverance of Sandisk's management, the following is stated (my emphasis) :
"... we have obligations to our shareholders, so we need to take a responsible approach to solving our problems, especially for such significant initiatives as this one (Sandisk offer) . Within this responsible approach, we must honestly admit that The growing risks in your business, which will continue to collapse under the conditions of the external crisis, will lower the price of your company more ... Recently, you unexpectedly announced operating losses of a billion dollars for the third quarter, you started urgent negotiations with Toshiba and started a massive downsizing, all of which points to an increase in the risk associated with your company and a decrease in its price, both individually and if it became a part of Samsung. As a result of this development, we are no longer interested in buying Sandisk for the price of $ 26 per share ... we wish you success in overcoming the challenges you face. "
')
Even before the opening of the auction, Sandisk shares fell by 30% - to about $ 10 of a share ...
I wonder when they will ask Samsung to buy them. And how much?
UPD
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Beginning of the story
In a rather snide open letter that Samsung Electronics CEO Yun Woo Lee (이윤우) signed, after expressing regret for the perseverance of Sandisk's management, the following is stated (my emphasis) :
"... we have obligations to our shareholders, so we need to take a responsible approach to solving our problems, especially for such significant initiatives as this one (Sandisk offer) . Within this responsible approach, we must honestly admit that The growing risks in your business, which will continue to collapse under the conditions of the external crisis, will lower the price of your company more ... Recently, you unexpectedly announced operating losses of a billion dollars for the third quarter, you started urgent negotiations with Toshiba and started a massive downsizing, all of which points to an increase in the risk associated with your company and a decrease in its price, both individually and if it became a part of Samsung. As a result of this development, we are no longer interested in buying Sandisk for the price of $ 26 per share ... we wish you success in overcoming the challenges you face. "
')
Even before the opening of the auction, Sandisk shares fell by 30% - to about $ 10 of a share ...
I wonder when they will ask Samsung to buy them. And how much?
UPD
Previous series
Beginning of the story
Source: https://habr.com/ru/post/43040/
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