Samsung drops bid to buy SanDisk

samdiskFolks, don’t you worry. The world will go on. Sure, the Samsung buyout of SanDisk would have made the world a better place, but we can’t focus on that now. It’s not going to happen. Instead of an outright takeover, Samsung simply renewed its NAND flash chip licence with SanDisk for seven more years at a better rate.

“We are no longer planning to pursue the acquisition as there has been no progress since we withdrew our offer as of Oct. 22, 2008,” said Samsung, the world’s top maker of memory chips, in a filing with the Korea Exchange.