SanDisk to buy Fusion-io for $1.1 billion

Reuters News
Posted: Jun 16, 2014 7:58 AM

(Reuters) - Chipmaker SanDisk Corp said it would buy flash storage device maker Fusion-io Inc for about $1.1 billion.

SanDisk's offer of $11.25 per share represents a premium of 21 percent to Fusion-io's Friday close.

Fusion-io's shares were trading at $11.35 before the bell on Monday.

(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Saumyadeb Chakrabarty)