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Why SanDisk (SNDK) Stock is Soaring This Morning

NEW YORK (TheStreet) -- Shares of SanDisk Corp. (SNDK - Get Report) are higher by 7.88% to $78 in pre-market trading on Tuesday morning, following reports that the data storage solutions provider is in advanced talks to sell itself to Western Digital (WDC).

A deal between the two companies could come as earlier as this week, sources told Bloomberg.

Western Digital is said to be discussing a price of between $80 and $90 per SanDisk share.

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There is still the possibility that the two companies will walk away from the talks having come to no deal, however, the discussions accelerated over the weekend, Bloomberg's sources added.

This has been a big year for mergers and acquisitions in the semiconductor sector, Bloomberg noted. Companies are consolidating as they face rising costs and a decline in their customer...