SanDisk which makes memory cards for electronics, is considering an option to buy Lexar Media industry insiders are saying.

SanDisk has hired Morgan Stanley to explore the bid, and a deal may include selling some of the combined company’s assets to Toshiba to avoid antitrust problems, a Morgan Stanley source has said. Lexar said March 8 that it had agreed to be bought by Micron Technology Inc. for $667 million, and the deal has been opposed by some Lexar shareholders, including Carl Icahn,said.

Representatives of SanDisk, Lexar and Toshiba didn’t return phone calls or declined to comment on the move. Shares of Lexar have rose 40 cents, or 4.6 percent, to $9.19 and traded as high as $9.33.