Micron, Western Digital in Buyout Talks With SanDisk: Report

Micron, Western Digital in Buyout Talks With SanDisk: Report
Micron Technology Inc and Western Digital Corp are in talks with SanDisk Corp about a possible acquisition, Bloomberg reported.

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 centres, smartphones and laptops - rose 10.9 percent to $68.50 in extended trading on Tuesday. Micron was up nearly 3 percent and Western Digital under 1 percent.

SanDisk, Western Digital and Micron did not immediately respond to requests seeking comment.

SanDisk was valued at about $12.6 billion (roughly Rs. 82,066 crores) as of the stock's close of $61.77 on Tuesday. The stock is down about 37 percent year-to-date.

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.

Several companies would view SanDisk as a strategic asset, Nomura analyst Romit Shah said last week, adding he believed SanDisk would reject offers short of $90 per share.

China's state-backed Tsinghua Holdings Co Ltd on September 30 said it plans to buy a 15 percent stake in Western Digital.

© Thomson Reuters 2015


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

India Drafts Rules to Regulate Uber, Ola Other App-Based Taxi Firms
Asus ZenPad 8.0 (Z380KL) Review: Flying the Android Tablet Flag

Related Stories

Share on Facebook Tweet Snapchat Share Reddit Comment



© Copyright Red Pixels Ventures Limited 2021. All rights reserved.
Listen to the latest songs, only on JioSaavn.com