Hynix, KEB Shares Surge on Talk Micron Pact Is Near (Update2)
By Ian King
02/08 02:35
quote.bloomberg.com
Seoul, Feb. 8 (Bloomberg) -- Shares of Hynix Semiconductor Inc. and creditor Korea Exchange Bank surged on reports the third- largest maker of computer memory chips may soon agree to sell assets to Micron Technology Inc., brokers said.
Hynix rose 8.1 percent to 2,530 won after gaining as much as 12 percent. Shares of Korea Exchange, Hynix's main commercial creditor, rose 13.7 percent to 5,520 won after trading as much as 15 percent higher. Chohung Bank, another creditor of the chipmaker, rose 9.7 percent to 5,760 won.
Hynix and Micron are in discussions about which date they will use to determine the Micron share price for calculating the purchase price of Hynix assets in a deal Micron will finance with stock, Yonhap news agency said.
``If both sides are discussing dates, that suggests they are very close to wrapping up the negotiations,'' said Lee Joon Hee, who manages 300 billion won ($230 million) at Dongwon BNP Investment Trust Management Co. in Seoul. ``That's good news for all parties involved.'' |
