×

Cold Shoulder Companies Now Collapsing

Sandisk is just the latest example of a struggling company that blew a chance for a buy-out. Both Yahoo! and Take-TwoInteractive are hardly far behind.

SanDisk

As you might remember it was only September when Samsung proposed a $5.9 billion unsolicited bid for flash memory card maker SanDisk, that’s about $26/share. Now SanDisk is barely trading above $8.

Symbol
Price
 
Change
%Change
SNDK
---

Take-Two

It was also late last year when Take-Two Interactive refused a hostile takeover offer from rival Electronic Arts for about $2 billion or $25.74/share. The companies had been dancing around various offers for almost 6 months. Now Take-Two trades around $6.

Symbol
Price
 
Change
%Change
TTWO
---

Yahoo!

And who can forget Microsoft’s bid for Yahoo! last spring. Microsoft initially offered $31 per share for Yahoo, then $33, but Microsoft withdrew from the talks after then Yahoo CEO Jerry Yang dug in for a price of $37 a share. At Tuesday's close Yahoo! was trading around $12.

Symbol
Price
 
Change
%Change
AABA
---

The Fast Money traders are just baffled. “It seems like the CEOs blew the call,” muses Jon Najarian. Karen Finerman agrees. “These companies just overplayed their hands.”

COMPANY SUITOR OFFER DATE

Sandisk Samsung $26/share 9/16/2008
Yahoo Microsoft $31/share 2/2/2008
Take-Two Electronic Arts $25/share 2/25/2008

______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On Feb. 3rd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE): Macke Owns (ERTS), (TM), (DIS), (MS), (SDS): Macke Owns (ERTS) Calls: Finerman's Firm Owns (DNA) & (DNA) Call Spread: Finerman's Firm Owns (MSFT), (TYC), (IBB), (XBI), (TBT): Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (BBT): J. Najarian Owns (WFC) Preferred; J. Najarian Owns (BAC) Preferred; J. Najarian Owns (C) Preferred; J. Najarian Owns (FCX) & (FCX) Long Calls; J. Najarian Owns (GDX); J. Najarian Owns (JPM) Preferred; J. Najarian Owns Gold Futures; J. Najarian Owns (ISRG) Call Spread