Samsung plans to acquire SanDisk

Samsung Electronics is pursuing an acquisition of US computer memory card maker SanDisk, an Associated Press report said, quoting a local online news site.

The report quoted Samsung spokesman James Chung saying 'we are considering various opportunities regarding SanDisk, but nothing has been decided.'

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.