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Why SanDisk (SNDK) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of SanDisk (SNDK - Get Report) were gaining 4.7% to $73.24 on Monday following a BusinessKorea report that electronics giant Samsung (SSNLF) is "keeping a close eye" on the memory maker's potential sale.

SanDisk recently hired an investment back to look into potentially sell itself after receiving interest from Micron Technology (MU) or Western Digital (WDC), according to recent reports. Chinese firm Tsinghua Unigroup is also reportedly interested in acquire SanDisk, BusinessKorea added.

Samsung was also reportedly mentioned a potential buyout candidate for SanDisk, but the Korean company decided a deal wouldn't generate more profit, according to BusinessKorea. Samsung made a $5.8 billion bid for the flash memory maker in 2008, but later withdrew the offer.

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Samsung is currently the dominant player in the memory market.

"There are at least four contenders for the acquisition, including Micron, Western...