Hynix and Micron sign long-awaited MOU

Hynix and Micron agree on terms after five months of negotiations.

Hynix and Micron yesterday signed a non-binding MOU, which if fulfilled, could see the conclusion of one of Asia's most engrossing corporate sagas.

According to press releases from both companies, the agreement states that Micron will purchase Hynix's memory business in exchange for 108.6 million shares in Micron common stock. Given that Micron's closing price on Friday was around $29.5, this equates to an overall purchase price of $3.2 billion. Micron will also invest $200 million in cash for...

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