Sandisk Might Be Seeking A Buyer

by Peter Mondrose October 14, 2015, 5:41 am 101 Views

Sandisk is in talks with Micron Technology Inc and Western Digital Corp. The company might sell itself according to Bloomberg.

The company, popular for its MicroSD and SD cards has hired a bank to explore a potential sale.

No decision has been made and the talks may not result in a transaction, Bloomberg said.

Shares of SanDisk, which also offers products for cloud computing, data centers, smartphones and laptops – rose 10.9 percent to $68.50 in extended trading on Tuesday. Micron was up nearly 3 percent and Western Digital down 1 percent.

SanDisk, Western Digital and Micron have not responded to the claim.

SanDisk was valued at approximately $12.6 billion as of the stock’s close of $61.77 on Tuesday. The stock is down about 37 percent year-to-date.

Sandisk has had a tough year because of delays in certain embedded parts used in solid-state drives.

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at OnlineDegree.com.