Creditors to Sell Hynix to Micron Technology
Associated Press
Creditors of Hynix Semiconductor Inc. approved a proposed $3.8-billion deal to sell the troubled South Korean chip maker’s memory operations to U.S. rival Micron Technology Inc.
The decision cleared the first major hurdle to the deal that would make Micron the world’s largest memory chip maker.
The deal is subject to approval by Hynix’s board of directors, which will convene today.
Micron shares gained 45 cents to close at $26.45 on the New York Stock Exchange.
