M Systems Flash Disk Pioneers Ltd. (FLSH)

[midastouch017]

Moran: Takeover rumors arise whenever we talk to SanDisk
Chairman and CEO Dov Moran: We've heard these rumors sixteen times, and we'll hear them for the twentieth time too.

Gitit Pincas 20 Jul 06 10:17

To the market it always seemed to make sense, this is not the first time that such speculation has been heard on all sides, and yet, it hasn't happened so far. The reference is to a possible acquisition of M-Systems Flash Disk Pioneers (Nasdaq: FLSH) by SanDisk (Nasdaq: SNDK).
The rumor is that M-Systems recently received a takeover offer form SanDisk that valued the company at $1.5 billion. M-Systems shares rose 6.4% yesterday to $27.87, giving the company a market cap of $1.21 billion.

M-Systems chairman and CEO Dov Moran said today that "We talk with the whole world all the time about all kinds of subjects at any given moment. The rumors that we would be acquired by SanDisk have been put about sixteen times already, and I assure you they will be heard for the seventeenth time and even the twentieth. We have had three cooperation arrangements with SanDisk, and every time we talk to them these kinds of rumors arise. It's part of life."

Globes: Your approach has always been not to sell the company. Is that still the case?

"Nothing has changed in my approach."

Published by Globes [online], Israel business news - www.globes.co.il - on July 20, 2006

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