But is the rejection real—or part of a strategy to get a higher offer? 
SanDisk CEO, says the $5.6 billion all-cash bid is "opportunistically timed at the trough of an industry-wide downturn" and fails to recognize the value of SanDisk patents.
In a letter Eli Harari sent to Samsung’s Yoon-Woo Lee, Harari says SanDisk remains "open-minded about a transaction that appropriately addresses the issues of value, deal certainty and process".
SanDisk claims the offer could be a ploy to gain leverage in licensing negotiations. SanDisk received $114m from Samsung in Q2 (14% of total revenue) in a deal that expires next August.
