(Nikkei BP Group)
(No.1 High-Tech News Site in Japanese)
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| Merger of Hyundai, LG Semicon DRAM Businesses Stalled
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March 16, 1999 (TOKYO) -- Efforts by Korea's Hyundai Electronics Industries
Co., Ltd. and LG Semicon Co., Ltd. to consolidate their DRAM microchip
businesses are at a standstill, mainly because of a failure to agree
on the price of LG stock.
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The merger plan had initially called for a stock price evaluation committee
to compute the price of LG Semicon's stock by the end of February, and
within seven days the contract for transferring LG's stock was to have
been completed.
However, the provisional stock prices presented by Hyundai and LG resulted
in a big gap. Thus, the stock price evaluation committee ended its attempt
to compute LG stock price. The computation of LG's stock price was again
left to direct negotiations between Hyundai and LG.
Hyundai and LG are in talks to reach an agreement as soon as possible.
Related story: LG
Semicon DRAM Plant May Resume Operations Feb. 6
(Nikkei Microdevices)
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