03-01-99 Hyundai, LG fail to iron out difference in semicon merger
Hyundai Electronics Industries and LG Semicon has failed once again to iron out conflicting stands concerning the stock pricing of LG Semicon required for Hyundai's takeover under the nation's semiconductor consolidation deal, business sources said.
A pricing evaluation committee called for the two sides to present alternative evaluation plans by softening their conflicting stances. In case they continue to stick to their own positions, the committee is expected to present its own stock pricing evaluation. In case the two sides reject the committee's evaluation, a third alternative plan will be forthcoming, sources said.
"For the moment now, the two sides hold fast to their own position, and even if the evaluation committee decides on the stock pricing evaluation, they are not expected to accept it, so we will consider a third alternative," a committee source said.
LG accused Hyundai of trying to take over it at a fire-sale price. The pricing difference between the two sides is as much four times, sources said.
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