SanDisk Hires Bank To Consider Possible Sale: Bloomberg

(RTTNews) - SanDisk (SNDK) is reportedly working with financial advisors to prepare for a possible sale of the company.

According to Bloomberg, citing people with knowledge of the matter, the chipmaker has hired an investment banker to look into its options. The news service added that SanDisk has received interest from two rivals, Micron Technology Inc. (MU) and Western Digital Corp. (WDC).

Bloomberg said that because of a manufacturing deal it has in place with Toshiba, that Japanese company would likely have to give its approval for an transactions.

The sources pointed out to Bloomberg that no decision has been made about a possible transaction and a deal may never be struck.