SanDisk shares soar on buyout rumors

SanDisk shares rose sharply Friday morning, as speculation surfaced that Samsung and Toshiba are interested in a buyout of the company.

SanDisk soared 11 percent to close at $11.05 a share, following a report in the EETimes.

The article, citing unnamed sources, said Samsung, which last year launched an unsuccessful bid for the company, and SanDisk's joint-manufacturing partner Toshiba are both interested in making a bid for the flash memory maker.

Last year, when Samsung made an unsolicited bid for the company, it offered SanDisk $5.85 billion for the company. SanDisk had rejected Samsung's overtures, citing the $26 a share offer as inadequate.

In late October, Samsung withdrew its offer, saying it had made no progress in its six-month effort to acquire the company.

A SanDisk spokesman declined to comment Friday. Representatives from Samsung and Toshiba were not immediately available for comment

[The_happy_switcher]

hmm...trading 11 bucks now. I guess that $26 offer looks pretty good now.

[Renegade Knight]

Only if you don't think it will ever recover. Stocks are about the long run. Not today's prices.