Earlier this week, SanDisk rebuffed Samsung’s takeover bid of $26 per share, or $5.85 billion. While that number represents a 93% premium on SanDisk’s stock price, the company feels that Samsung is trying to take advantage of its depressed stock due to the current oversupply of NAND chips on the market. Indeed, the company’s stock had been trading in the $30+ dollar range just four months ago.
Many believe SanDisk is “pulling a Yahoo” in their negotiations and that they should probably consider a sell before they cripple their stock. But according to eWeek, the potential list of buyers for SanDisk now includes Intel and Seagate, which will certainly strengthen their chances of getting a better deal. On top of that, there are rumors that Toshiba could also enter a bid, though the company is believed to be under significant financial pressure compared to Samsung. Keep in mind this is all just speculation at the moment, but I wouldn’t be surprised to see Samsung to step up its bidding here.