SanDisk tumbles as Samsung scraps bid

The Sansa Fuze media player from SanDisk in an undated image courtesy of the company. Shares of SanDisk plunged before the bell on Wednesday after Samsung Electronics, the world's top memory chip maker, withdrew a $5.9 billion unsolicited bid for the flash memory card maker.

NEW YORK (Reuters) - Shares of SanDisk Corp (SNDK.O) plunged by more than 25 percent to $11.01 before the bell on Wednesday after Samsung Electronics Co Ltd (005930.KS), the world's top memory chip maker, withdrew a $5.9 billion unsolicited bid for the flash memory card maker.

Samsung cited the U.S. company's deepening losses and uncertain outlook.

(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)