Samsung Drops Bid To Acquire SanDisk

Law360, New York (September 4, 2009, 3:15 PM EDT) -- Seoul-based Samsung Electronics Co. Ltd. has reportedly dropped its bid to acquire flash memory maker SanDisk Corp., about a year after SanDisk's board of directors rejected Samsung's offer to buy the company for $5.9 billion.

Samsung said on Thursday it had no intention of acquiring SanDisk, according to a regulatory filing with the Korea Exchange, Reuters reported Thursday. When the company last commented on the issue in March, it said there had been no progress on the acquisition.

Samsung had said the acquisition would create a...
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