China Bids $23B for Micron
Beijing's could contribute from $20B fund
7/13/2015 10:45 PM EDT
SAN FRANCISCO – In a bold move to put China at the forefront of semiconductors, Tsinghua Unigroup bid $23 billion to buy Micron Technology. The deal would fill one of the biggest strategic holes in China’s chip industry but is expected to raise political issues all the way to the U.S. White House.
The Wall Street Journal reported the bid after close of the U.S. stock market. With $16.8 billion in revenues last year, Micron is the second largest chip maker in the U.S. following Intel.
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