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To: StanX Long who wrote (63035)	4/21/2002 11:05:32 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hynix Shares Plunge on Reports That Micron Agreement Is Close By Ian King quote.bloomberg.com Seoul, April 22 (Bloomberg) -- Shares of Hynix Semiconductor Inc. tumbled after reports the company and its creditors are close to signing a deal to sell most of the Korean chipmaker's assets to rival Micron Technology Inc. Shares fell as much as 11.5 percent as investors bet there will be little left for them after Hynix's memory-chip business, which provides three quarters of the company's sales, is sold and the proceeds taken by creditor banks. Local newspaper reports said Micron will pay about $4 billion for Hynix. The company owes creditors 6.5 trillion won ($4.9 billion). The Seoul Economic Daily today said an initial agreement will be signed as early as this week.