Reuters first with Samsung pulling SanDisk offer; shares plummet 32 pct

Reuters was ahead of the curve on Oct. 21 with a prescient analysis that said Samsung Electronics could pull its $5.85 billion offer for SanDisk Corp after the flash memory maker posted disappointing results and reworked a joint venture with Toshiba. Correspondent Anupreeta Das pursued this line of thinking after being tipped off by a source, and examined the various issues — from the declining value of the Korean won against the U.S. dollar to the excess supply in the memory chip market — that made it less attractive for Samsung to now acquire SanDisk. Two hours after the Reuters story hit, Samsung officially announced it was withdrawing its offer for SanDisk, saying it was no longer worthwhile to pursue the company.