China chip maker prepares US$23b bid for Micron: WSJ
The company, controlled by Tsinghua University in Beijing, has struck many international deals in recent past
Beijing
STATE-backed Chinese technology conglomerate Tsinghua Unigroup Ltd is preparing a US$23 billion bid for US memory chip maker Micron Technology Inc, The Wall Street Journal reported, in what would be the biggest Chinese takeover of a US company.
Tsinghua Unigroup is prepared to bid US$21 per share for Micron, which is at a 19.3 per cent premium to the stock's close on Monday, the Journal reported, citing people familiar with the matter. The Journal earlier reported that a bid had been submitted. A Micron spokesman however said that while the company did not comment on rumours or speculation, it had not received an offer.
TRENDING NOW
Fed hike throws Singapore banks a margin lifeline; UOB likely to benefit more
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
Chagee, Mixue and Luckin won the market. Sustaining their edge is the harder part
Canada is upping oil flows to Asia, but South-east Asia’s refineries aren’t ready to handle them yet
