SanDisk, record labels announce new music format
The ever-shrinking record album–its latest iteration being the compact disc–just got a lot more compact, or shall we say, micro.
Backed by four major music labels, SanDisk on Monday announced a new physical music format dubbed SlotMusic that s essentially an entire album on a MicroSD compact memory card. Wal-Mart and Best Buy are among the retailers that have already signed on to start selling the cards for the upcoming holiday season.
SanDisk rejected Samsung takeover offer
SanDisk Corp. said Tuesday it had rejected a $5.85 billion takeover offer from Samsung Electronics Co. Ltd after its board determined the deal was “inadequate in multiple respects.”
SanDisk’s shares shot up $7.81, or 52 percent, to $22.85 in after-hours trading after ending the regular session up 63 cents at $15.04.
Samsung, in turn, said it had reiterated its $26-per-share cash offer for Milpitas-based SanDisk.
In letter to SanDisk’s board dated Sept. 15, Samsung Chief Executive Officer Yoon-Woo Lee said that after four months of negotiations, SanDisk “continues to cling to unrealistic expectations on both its standalone market value and an appropriate merger price.”
Rumor: Seagate Plans to Acquire SanDisk
Seagate Technologies, the world’s top maker of hard disk drives (HDDs) and a company that is especially skeptical about solid-state drives (SSDs), may be looking forward to take over flash-based devices maker SanDisk, according to market rumours.
The unofficial information, based on which Seagate is interested in buying all or part of SanDisk Corp., was spread at the Flash Memory Summit in Santa Clara, California, reports EETimes web-site. SanDisk is a platinum sponsor of the summit, whereas Seagate Technology does not participate.
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