Unisplendour rises on parent’s chip deal
Print Edition
SHENZHEN-LISTED Unisplendour Corp surged by the 10 percent daily cap yesterday after its parent Tsinghua Unigroup Ltd was said to buy US-based chipmaker Micron Technology Inc for US$23 billion.
Tsinghua Unigroup would bid US$21 a share, or about 19 percent more than Micron’s closing price on Monday in New York, media reported yesterday, citing sources who asked not to be identified.
Micron said it hadn’t received the proposal.
“We are very interested to cooperate with Micron,” Tsinghua Unigroup Chairman Zhao Weiguo said, without commenting on the potential bid, as reported by Bloomberg News.
Unisplendour, the subsidiary of Tsinghua Unigroup, surged by the 10 percent limit to close 82.70 yuan (US$13.32) yesterday, compared with a 0.91 percent gain in the benchmark Shenzhen Component Index.
But the deal still requires several rounds of negotiations because some Micron’s technologies are also owned by Intel Corp and they represent the most advanced technology in the US, according to TrendForce, a Taiwan-based research company.
“There is only a small possibility US regulators will approve this deal because it has a very strict review over offers from foreign investors, especially China,” said Gu Wenjun, chief analyst at iCwise, a Shanghai-based consulting company.
Micron is the world’s third-largest memory chip vendor.
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