SEOUL, South Korea -- After ending merger talks last month, Korea's Hynix Semiconductor Inc. and U.S.-based Micron Technology Inc. have reportedly tied the knot in a deal worth $4 billion, according to reports from the Associated Press.
The AP quoted Hynix president Park Chong-sup as saying that the Korean chip maker and Micron have all but completed what the companies call a "strategic alliance."
"We have virtually reached agreement on price and other key points in negotiations with Micron," Park said in the report.
Under the terms, Micron would take over Hynix's workforce, and reportedly its memory fabs, according to the report and sources. The companies could sign a memorandum of understanding as early as next week, according to the AP.
Last month, the U.S. chip maker confirmed that talks to take over seven Hynix memory fabs had broken off and no further discussions between the two firms are scheduled. Micron reportedly had offered $2.5-to-$3 billion, but some of the largest Korean creditors of Hynix wanted several billion more.
After breaking off merger talks with Micron, Hynix reportedly moved into discussions about a chip alliance with Germany's Infineon Technologies AG. Now, Infineon and Hynix are no longer talking about a memory alliance, but rather a smaller deal on the communications front, according to the AP.
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