Korean consumer electronics giant Samsung has launched a $5.85 billion hostile takeover bid of flash memory chipmaker SanDisk. News of the all-cash offer for SanDisk caused shares of the Milpitas, Calif.-based company to skyrocket more than 40 percent in early morning trading. SanDisk, which rebuffed an earlier offer from Samsung last May, also rejected Samsung’s latest bid. SanDisk Chairman and CEO Eli Harari said Samsung’s unsolicited acquisition offer severely undervalues SanDisk.
