LONDON Toshiba Corp. is unlikely to make a counter-bid for flash memory card maker SanDisk that would challenge Samsung's offer on the table, the Japanese company's Chief Executive Officer Atsutoshi Nishida has said.
"I have no intention of doing that," Nishida said at the CEATEC consumer electronics show taking place this week in Chiba, Japan.
"We go back a long way and our partnership is tied by many agreements," Nishida said on the sidelines of the show, according to a report in Reuters.
Last month, Samsung made a $5.85 billion bid for SanDisk that was rejected by the California-based company, and ever since there has been speculation that Toshiba may enter the fray.
Samsung and Toshiba are ranked first and second in NAND flash, respectively, and the acquisition of SanDisk could give Samsung a near monopoly in NAND devices, components and subsystems. SanDisk and Toshiba, though competitors, have also maintained a NAND chip joint venture for several years.
Nishida noted a meeting with SanDisk officials in the U.S. last week was part of a routine visit.
Regulatory issues likely to be faced by Samsung may also be why Toshiba is adopting a wait-and-see approach.
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