Before agreeing to SanDisk's $11.25 / share offer, Fusion-io had held talks with a total of 11 potential acquirers.
Read the SEC filings Schedule 14D-9.
SanDisk showed an initial interest last October, but halted talks in December.
They came back to the table in May, when all the other potential acquirers withdrew and closing a deal (after securing a discount).
Additionally SanDisk commented that "There were a lot of things that we were assessing ... Fusion-io was certainly one option in meeting our business goals, but not the only option."
Suppose the incompetent management team could not risk losing customers by announcing the search for a buyer to goose the share price.
Looks like the fat lady is singing.
Anyone who makes the effort to read the Schedule 14D-9 filing will understand that the BOD, Financial Manager and Senior Management team shopped the company aggressively for 6 months.
There was virtually no interest.
All the details are in the filing.
After considering the SNDK offer, vs. continuing as an independent company, shareholders got the best possible price.
Question is, why is the share price still above $11.25?