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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63133)	4/23/2002 11:48:39 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Micron Says It Will Buy Biggest Part of Hynix April 23, 2002 By DON KIRK nytimes.com Micron Technology agreed in principle yesterday to buy most of Hynix Semiconductor of South Korea — taking all of its main business, the manufacture of memory chips, and a 15 percent stake in the rest — for about $4 billion in cash and stock. The deal, announced in Seoul and in Boise, Idaho, where Micron is based, generally follows the outline sketched out in March by Micron and by the main creditors who control the finances of Hynix, which is bankrupt. But Micron's stake in the nonmemory businesses will be smaller than 20 percent, the figure reported in March. Now that a memorandum of understanding has been signed, the way is open for Micron to pore over Hynix's books and arrive at an authoritative answer to a crucial question about the company: exactly how much it owes. A figure of $6.8 billion owed to banks like Hanvit Bank and the Korea Development Bank is often mentioned, but many analysts suspect that the true total is much higher, as has been the case when other troubled Korean companies have been acquired.