SanDisk Struggles As Management Ducks For Cover
ChannelNews has been told that the Company who are desperate to cut costs and who are rumoured to be a takeover target axed their PR Company in Australia in an effort to reduce overheads.
We have also been told that Text 100 has picked up the account for a considerably smaller fee than what Upstream were charging.
Last year, Korea’s Samsung launched a hostile takeover bid for SanDisk however some say that this was more of a fishing expedition and that both Samsung and Toshiba are now considering making a serious bid for SanDisk.
However some analysts claim that the Company is not worth buying considering the current state of the flash memory market. Jim Handy, an analyst with Objective Analysis recently said he is ”sceptical” that SanDisk will get acquired in the near term.
According to insiders Samsung was only willing to buy SanDisk at $25.00 per share while SanDisk believes that they are worth $60.00 a share.