SanDisk has hired a bank to explore a potential sale, Bloomberg reported, citing sources familiar with the matter.
No decision has been made and the talks may not result in a transaction, Bloomberg said.
Shares of SanDisk – which makes products for cloud computing, data centers, smartphones and laptops – rose 10.9% to $68.50 in extended trading on Tuesday (SNDK). Micron (MU) was up nearly 3% and Western Digital (WDC) under 1%.
The company has been grappling with a delay in sales of certain embedded parts used in solid-state drives, which are faster and more reliable than traditional hard disk drives.
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