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SanDisk Said to Be Working With Bank to Explore a Sale

Chipmaker SanDisk Corp. hired a bank to explore a potential sale of the business and has received interest from two of its rivals, people with knowledge of the matter said.

Micron Technology Inc. and Western Digital Corp. are in talks with SanDisk about a possible acquisition, said the people, who asked not to be identified because the process is private. SanDisk, based in Milpitas, California, operates flash-memory plants with Toshiba Corp. in Japan, and would likely need Toshiba’s blessing for a deal.

No decision has been made and talks with the companies may not result in a transaction, the people said. SanDisk surged as much as 17...