Updated at 11:40 p.m. with SanDisk response to Samsung letter.
Samsung on Tuesday withdrew its $5.85 billion bid for SanDisk, citing an increasing "risk profile."
This follows a new manufacturing agreement between SanDisk and Toshiba disclosed Monday and a stiff rejection by SanDisk last month of the Samsung offer.
"After nearly six months of efforts to pursue a transaction with no meaningful progress, we are withdrawing our proposal to acquire SanDisk," Yoon Woo Lee, vice chairman and CEO at Samsung Electronics, said in a letter that Samsung released Wednesday in Seoul.
"I … Read more