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Technology Stocks : Micron Only Forum

MU 237.94

-0.2%

Nov 7 9:30 AM EST

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To: ild who wrote (53646)	4/21/2002 8:05:57 PM
From: Return to Sender	Read Replies (1) of 53903

Hynix Agrees on Basic Terms of Micron Deal -Paper biz.yahoo.com SEOUL (Reuters) - South Korea's Hynix Semiconductor Inc (00660.KS) has agreed on basic terms for a deal to sell its memory operations to U.S. rival Micron Technology Inc (NYSE:MU - news), a local newspaper said on Monday. Hynix's chief executive Park Chong-sup and head of state-run Hanvit Bank Lee Duk-hoon returned to South Korea on Sunday from the United States, after overcoming some sticking points in the $4 billion deal with Micron, the Maeil Business Newspaper said. ``We had constructive talks with Micron officials,'' the newspaper said, quoting a creditor bank official. ``We expect Micron to notify us of its final decision on signing a memorandum of understanding as early as Monday.'' South Korea's top regulator said on Saturday creditors would reveal this week details of the progress made in the talks. A collapse in chip price resulted in Hynix, the world's third largest computer memory chipmaker, posting a record $3.8 billion net loss last year and forced it to enter alliance talks with Micron in December. Micron is interested in Hynix's entire memory assets and a stake in non-memory operations. The proposed deal would put the U.S chipmaker ahead of South Korea's Samsung Electronics (05930.KS) as the world's largest memory maker. Hynix would be left as a manufacturer of non-memory chips for mobile phones and other devices, which accounted for about 30 percent of its 2001 revenues.

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