SanDisk stocks jump as buyout rumors circle the company

SanDisk saw their stocks take a huge leap recently as a result of rumors of a possible buyout from either Samsung or Toshiba. Their shares jumped 12.5 percent and as of this morning were over $10.

Samsung has had a long standing interest in the company and tried to obtain it last year unsuccessfully. Their bid of $5.85 billion was rejected with SanDisk’s reasoning being that $26 per share was inadequate. Toshiba is a joint manufacturing company with SanDisk and also has expressed an interest in purchasing the popular flash memory card producer.

However, analysts have found that it is unlikely that Toshiba will have the ability to come up with the financial resources to complete the purchase. As of right now, no deals have been officially put on the table. Earlier this week, SanDisk experienced another stock jump when it was announced that they would be raising their retail prices an estimated 10 percent

Read: [Barron's]