Is SanDisk becoming an acquisition target as the market consolidates?

Expensive

So we have two flash (heh!) firms, vertically integrated. What's the justification for the purchase of what will be a seriously expensive, intricate, regulatory agency challenging deal? Is the IP really worth that much? Or is it the foundaries? Too much redundancy for my taste even should you sell off pieces at a premium at the behest of agencies. Another suitor, maybe. Help me here, Chris. Definitely shades of EMC & VMware but making even less sense in the political-economy.

[Any sort of reverse merger ignored. I suppose that is covered under intricate.]