Samsung offers to purchase SanDisk for $5.85 billion

Samsung Electronics Co., the world's second-largest chipmaker, made an unsolicited offer to buy SanDisk Corp. for about $5.85 billion to widen its lead in the market for chips that store pictures and music.

Samsung bid $26 in cash for each SanDisk share, the Suwon, South Korea-based company said today in a statement. That's 93 percent more than SanDisk's share price on Sept. 4, a day before Samsung said it may buy the company. SanDisk's stock surged 56 percent in after-hours trading today.

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