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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (58569)	1/9/2002 4:14:05 AM
From: StanX Long	Read Replies (1) of 70976

Wednesday January 9, 3:42 PM Micron Proposes Taking Over Chipmaking Unit of Korea's Hynix sg.news.yahoo.com SEOUL, Jan 9 Asia Pulse - A delegation from Micron Technology has offered to take over Hynix Semiconductor's dynamic random access memory [DRAM] chip operations, an official from Hynix' restructuring special committee said today. The US firm's delegation, led by Micron chief Steve Appleton, arrived in Seoul Monday for a third-round of talks with Hynix Semiconductor over a strategic alliance with the troubled Korean chipmaker. The official declined to offer detailed acquisition terms allegedly proposed by Micron at negotiations believed to going on between the two parties but unconfirmed. An executive from one of Hynix' creditors said the cash-strapped firm hopes to sign a memorandum of understanding [MOU] this week that lays out the deal's basic principles and further action plans to reach a final agreement. Referring to an acquisition price for the deal, he said the two sides have yet to decide whether to include the price in the MOU, although he indicated Micron has put up an acquisition price close to what the Hynix side wants to receive. Industry experts forecast that the US chip giant plans to acquire the DRAM unit, launch it as a separate entity and give Hynix a portion of Micron stocks as payment for the deal. Hynix and Micron are expected to sign a memorandum of understanding [MOU] this month and continue towards a formal agreement if talks are productive. If Micron proposes taking over only the DRAM unit, Hynix is expected to ask Micron to acquire a 19 per cent stake in its non-DRAM operations as well. On December 3, Hynix and Micron announced they had begun talks on a possible alliance and were "evaluating a broad range of strategic options."

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