Micron Technology (MU): Tsinghua Unigroup Preps $23B Bid

HFA Padded
Mani
Published on
Updated on
Micron Technology

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. Tsinghua’s bid for Micron at 19% premium Beijing-based Tsinghua Unigroup, which was founded in 1988, became China’s largest chip design firm in 2013 after acquiring two of the country’s largest mobile-chip firms, Spreadtrum Communications…

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!

HFA Padded

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports