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Technology Stocks : Micron Only Forum

MU 253.17

+6.4%

Nov 10 3:59 PM EST

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To: Bilow who wrote (53426)	1/3/2002 9:14:43 PM
From: ild	Read Replies (1) of 53903

asia.reuters.com Micron to buy Korea Hynix unit for $4-5 bln-report Last Updated: 04 January, 2002 07:53 AM GMT+08:00 Print This Article SEOUL, Jan 4 (Reuters) - U.S. Micron Technology Inc (MU.N) plans to swap a stake in Micron worth $4 billion to $5 billion for the DRAM chip operations of South Korean rival Hynix Semiconductor Inc <00660.KS>, a Korean newspaper said on Friday. Micron and Hynix rank second and third in memory output capacity behind Samsung Electronics Co Ltd <05930.KS> and have been in alliance talks since early December. "Micron will establish a new entity after taking over Hynix's DRAM unit and also invest in Hynix's non-DRAM businesses," the Korea Daily News said, quoting an unnamed creditor bank official. DRAM (dynamic random access memory) chips are used for memory in computers and account for 64 percent of Hynix's revenues. Basic DRAM chips have been hardest hit by a fall in memory chip prices that has rocked the industry. "Hynix expects to sign a binding preliminary agreement with Micron in January, which will require definitive agreement by the end of March," the newspaper said. Shares in Hynix, which has said it expects a deal with Micron this month, closed up 2.5 percent at 2,850 won ($2.19) on Thursday while Micron jumped 9.8 percent to $36.51. ($1=1302.7 won) REUTERS

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