“IN A BID TO fend off its bitter rival, Samsung, Japanese memory maker Toshiba says it will buy $1 billion of equipment from joint venture partner, Sandisk, currently the unwilling object of the South Korean firm’s takeover desire.
With prices of NAND flash dropping through the floor, Sandisk shares have also taken quite a tumble, dropping 50 per cent in the last year and leaving the firm vulnerable to unwanted advances.”
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Source: The Inquirer
In a desperate bid to make SanDisk too big to pick up, Toshiba is buying 30% of SanDisk’s current equipment. They hope this will make SanDisk too expensive for Samsung to take over; either willingly or as a hostile bid. Toshiba isn’t looking to good right now either, they are being pinched by the same price drop in memory, which is probably why they are ensuring SanDisk will purchase at least some of that equipment back from Toshiba. Read more about their financial woes at The Inquirer.