(Associated Press via NewsEdge) Samsung Electronics is pursuing an acquisition of US computer memory card maker SanDisk, a South Korean online business newspaper reported.
Both Samsung and SanDisk neither confirmed nor denied the report. But SanDisk's shares climbed more than 31% last week.
'We are considering various opportunities regarding SanDisk but nothing has been decided,' Samsung spokesman James Chung said. He did not elaborate.
'SanDisk periodically has conversations with multiple parties, including Samsung, regarding a variety of potential business opportunities,' SanDisk said in a statement. 'We evaluate all of these opportunities, but maintain a policy of not commenting on market rumors or speculation.'
The online paper edaily said on its web site that Samsung chose J.P. Morgan as an adviser for the acquisition about one month ago, citing investment banking and semiconductor industry officials it did not identify.
J.P. Morgan in Seoul declined to comment.
Chung said that Samsung currently supplies NAND flash memory chips to SanDisk. The company is the world's largest supplier of flash storage card products.
© 2008 The Associated Press
© 2008 Dialog, a Thomson business. All rights reserved