Micron Technology (MU): Tsinghua Unigroup Preps $23B BidMani
In a potential big win for David Einhorn's Greenlight Capital, Chinese state-backed company Tsinghua Unigroup is said to be planning a $23 billion bid to acquire U.S. memory chip maker Micron Technology in what could be the biggest Chinese takeover of a U.S. company ever. If the bid fructifies, it would be the largest outbound acquisition for a China-based company, surpassing Cnooc’s $17.4 billion bid for Nexen Energy in 2012.
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