July 14, 2015

"China has attached strategic importance to the development of domestic semiconductor, server and networking equipment industries amid fears of foreign cyberspying."

Reuters China's state-backed Tsinghua Unigroup Ltd is preparing a $23 billion bid for U.S. memory chip maker Micron Technology Inc (MU.O), in what would be the biggest Chinese takeover of a U.S. company, people familiar with the matter said. by Sneha Banerjee, Noel Randewich, Peter Henderson, Paul Carsten, Gerry Shih, and John Ruwitch

'The technology conglomerate is prepared to bid $21 per share for Micron, a 19.3 percent premium to the stock's close on Monday. The offer could come as early as Wednesday, a person close to Tsinghua told Reuters, although a Micron spokesman said it had not received an offer.

'A successful bid would consolidate Tsinghua Unigroup's position as a champion for China's technology development, after it struck deals and research partnerships with international firms in the semiconductor industry.

'The company is controlled by Tsinghua University in Beijing, which counts President Xi Jinping among its alumni, and is backed by China's central government.'

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