South Korean conglomerate Samsung Electronics Co. is webbing the plan of acquiring US-based memory chip maker SanDisk Corp. in an acquisition that could become the company’s biggest take over till date, reported Reuters.

Meanwhile, a company official at Samsung reportedly said that the company is exploring the acquisition of SanDisk, but didn’t divulge much detail citing the premature stage of the talks.

The take over of the $3 million valued SanDisk if materialized, is believed will help Samsung widen its lead over Toshiba Corp. in the $15 billion market for chips that store data in cameras and portable music players.

Samsung’s shares soared by 2.7 percent to 527,000 won by 0311 GMT, amidst the acquisition news.