SanDisk (SNDK) stock skyrocketed Wednesday on rumors the Milpitas, Calif.-based chipmaker might be acquired by Micron Technology (MU) or Western Digital (WDC). Bloomberg reported late Tuesday that SanDisk had contacted bankers to explore a possible sale. Besides Micron and Western Digital, Summit Research analyst Srini Sundararajan says Seagate (STX) and SK Hynix also are potential suitors. SanDisk didn’t immediately return a call requesting
SanDisk (SNDK) stock shot up 12% in late trade Tuesday on reports it is putting itself up for sale. Micron Technology (MU) and Western Digital (WDC) are seen as possible buyers. The buzz comes as chip M&A activity has heated up, with some major deals. SanDisk, which has struggled in the past two years as sales to Apple (AAPL) have waned, has hired a bank to advise on a possible sale, sources told Bloomberg, which initially reported the story.
Chinese Tsinghua Group’s $3.8 billion investment in data storage firm Western Digital (WDC) might signal the death knell for a rumored deal with Micron (MU), Rosenblatt Securities said Friday. Buzz circling SanDisk (SNDK) and Toshiba might also be overblown, Rosenblatt analyst Jun Zhang wrote in a research report. “We believe SanDisk and Toshiba are unlikely targets,” he wrote. “Micron is still attractive to Chinese PEs, but we think the decision