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  • Merger of Hyundai, LG Semicon DRAM Businesses Stalled
  • 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.
    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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    Updated: Mon Mar 15 17:14:04 1999 PDT