Chinese Tsinghua Unigroup to file USD 23bn bid for US Micron - report

July 14 (SeeNews) – Chinese state-backed private equity firm Tsinghua Unigroup Ltd is looking to acquire Micron Technology Inc (NASDAQ:MU) in a deal that would value the US memory chip maker at USD 23 billion (EUR 20.9bn), Reuters reported on Tuesday, citing sources.

Tsinghua is expected to file a USD 21 per share bid for the company as early as Wednesday, a person close to the technology conglomerate told the news agency. A spokesman for Micron, however, said the company had not been approached with an offer yet.

If the transaction goes through, it would become the biggest Chinese acquisition of a US company.

Micron produces dynamic random access memory (DRAM) chips and NAND memory chips for storing music, images and other data on smartphones, cameras and other mobile devices. The company has production facilities and a sales office in Taiwan and indirectly owns 20% of Inotera Memories Inc (TPE:3474), a joint venture with Nanya Technology Corp (TPE:2408).

(USD 1 = EUR 0.909)

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