Formerly About Applied Materials Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials

AMAT 297.52

-6.6%

Feb 4 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: StanX Long who wrote (64189)	6/4/2002 2:54:56 AM
From: StanX Long	Read Replies (1) of 70976

Creditors take majority stake in Hynix By Jack Robertson EBN (06/03/02 17:20 p.m. EST) siliconstrategies.com Creditor of Hynix Semiconductor Inc. have exercised their option to take a majority stake in the troubled DRAM maker. The way was cleared Saturday for the Hynix creditors to convert $2.3 billion in bonds to common stock in order to gain a 78% to 80% equity interest in the chip company. To take management control the creditors need the Hynix board to call a special stockholders meeting so they can vote in their own directors. It will take at least six weeks before such a meeting can be held. A Micron Technology spokesman last Friday said the company "is expecting to be contacted" by the Hynix creditors once they have officially gained control of the financially distressed chipmaker. The Micron spokesman said the firm hasn't been contacted ever since the Hynix board of directors rejectedits the memorandum of understanding to purchase six Hynix memory fabs.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next