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Chinese tech giant prepares biggest-ever US takeover bid - reports


economy

Chinese tech giant prepares biggest-ever US takeover bid - reports

In what could be the biggest-ever Chinese takeover of a US firm, Tsinghua Unigroup is preparing a bid for memory chip maker Micron, according to people close to the matter.

The tech giant is reportedly set to offer 21 dollars per share for Micron, an almost 20 percent premium to the stock’s close on Monday.

Sources close to the Chinese firm say the bid could be put in as soon as Wednesday.

Any such takeover of Micron would likely have to pass a review by the US Committee on Foreign Investment, which looks at the national security implications of such deals.

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