SanDisk says no to Samsung takeover bid
SanDisk has rejected an unsolicited takeover bid from hardware maker Samsung Electronics, saying that it undervalues the Milpitas, California, maker of flash storage cards.
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The key sentence is in the
The key sentence is in the last paragraph. Samsungdoesn't "plan" to layoff any of Sandisk's employees...
(Where have we heard that one before, and for those with
short term memory impairment, think of HP's latest
announcement to layoff 24,600 after acquiring EDS, and
before that SUN Microsystem's 2,000 person layoff.
I see it playing out this way. Samsung acquires Sandisk.
Employees of Sandisk in Milpitas join the ever
swelling ranks of the unemployed in Silicon Valley.
Having been a cautious optimist for most of my life,
I can only hope SanDisk CEO Eli Harari decides against this
acquisition.