China’s largest state-owned microchip designer, Tsinghua Unigroup, has offered to buy US chipmaker Micron Technology (MU.NASDAQ) for US$23 billion, The Wall Street Journal reported, citing unnamed sources. Unigroup’s offer of US$21 a share for the Nasdaq-listed Micron would give a 19.3% premium over its Monday closing price. Tsinghua Unigroup already has links to several major US firms: It acquired a controlling stake in Hewlett-Packard’s (HPQ.NYSE) China networking equipment unit in May, and Intel (INTC.NASDAQ) bought a 20% stake in the Beijing-based chip firm last year for US$1.5 billion.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved