SanDisk Rallies as Takeover Rumors Resurface
SanDisk (SNDK) shares are on the rise on rumors that Toshiba might be planning a bid for the company, according to Dow Jones Newswires. The two companies have a joint venture to manufacture NAND flash memories, and Toshiba has been often rumored to be a logical partner for the flash memory chipmaker.
In October, Samsung withdrew a $26-a-share bid for SanDisk; there was speculation before Samsung pulled its offer that Toshiba might serve as a white knight for SanDisk.
