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Politics : Formerly About Applied Materials

AMAT 320.09

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To: StanX Long who wrote (60740)	2/20/2002 2:17:32 AM
From: StanX Long	Read Replies (1) of 70976

Hynix Counteroffer to Be Sent to Micron This Week (Update2) By Ian King and Heejin Koo quote.bloomberg.com Seoul, Feb. 20 (Bloomberg) -- Hynix Semiconductor Inc. will send a counterproposal this week to larger rival Micron Technology Inc. of the U.S., which offered to buy the Korean company's memory- chip business. ``All sides are seeking to conclude talks this month,'' Chief Executive Park Chong Sup said after a meeting of Korean semiconductor-related companies. While Hynix creditors are ``divided'' over Micron's offer, Park said Micron is showing ``patience'' in the negotiations, which he rates as having a ``50-50'' chance of success. The semiconductor companies began talks in early December about an alliance, which would overtake No.1 Samsung Electronics Co. to dominate the $11 billion memory-chip industry. Agreement from Hynix's creditors, who received an offer for its chip plants last week, is key to concluding an accord because they have first call on its assets after bailing the company out twice last year. Hynix is concentrating on talks with Boise, Idaho-based Micron rather than formulating plans for survival without a purchase by the U.S. company, Park said.

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