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Technology Stocks : Micron Only Forum

MU 253.17

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3:59 PM EST

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To: Bipin Prasad who started this subject	2/12/2002 4:04:49 AM
From: Ohkami	Read Replies (1) of 53903

Korea Herald: Infineon offers to control Hynix memory chip unit KH is usually not very reliable in my experience, but as this would be a major new move I'm still posting it for everyone's info: Infineon offers to control Hynix memory chip unit AFP, SEOUL German microchip giant Infineon Technologies AG has offered to control the memory chip unit of Hynix Semiconductor Inc, a newspaper said yesterday. Infineon also expressed interest in forging an alliance with Hynix, with its price offer bigger than that of US rival Micron Technology Inc, the Korea Herald said. Morgan Stanley, Infineon's financial adviser, has told Hynix creditors that the German firm is capable of mobilizing up to US$8 billion in cash, it said. It quoted a source as saying: "The Infineon negotiating team suggested they would take over Hynix's memory operations altogether, since they believe that forming an alliance at the level of joint R&D or marketing would not be productive." Infineon delegates reportedly looked into Hynix finances and operations last week when talks between Hynix CEO Park Chong-sup and Micron officials were held. The deal between Hynix and Micron took a new turn after Infineon jumped into the race to buy Hynix with better terms which reportedly included a cross-shareholding of more than 20 percent. The newspaper said Hynix and Micron were in the process of negotiating how to handle the estimated 6.5 trillion won (US$4.9 billion) debt that Hynix's non-memory operations would retain after its sell-off. Micron could infuse up to US$250 million in additional stocks or cash to take in a 25 percent stake for the business. (from DRAM Exchange)

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