China's Tsinghua Unigroup Signals Interest in Micron After WSJ Report

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Tsinghua Unigroup Ltd. Chairman Zhao Weiguo signaled the company is interested in Micron Technology Inc. after the Wall Street Journal reported the Chinese company made a $23 billion bid for the U.S. semiconductor maker.

“We are very interested in cooperation with Micron,” Zhao said by phone.

Tsinghua bid $21 a share, or about 19 percent more than Monday’s closing price in New York, the Journal reported, citing unidentified people familiar with the matter.

Micron on June 26 reported its first revenue decline in more than two years on weakening demand for its dynamic random access memory, or DRAM, chips used in personal computers. The company is expanding its offerings to include memory for smartphones and servers and another type of chips used as storage in mobile devices and computers.

Micron spokesman Dan Francisco said the company doesn’t comment on rumor or speculation when contact by Bloomberg News.

Micron shares fell 18 percent on the day after it reported the revenue decline, the sharpest single-day drop since December 2008.

The stock is down 50 percent this year and Micron has a market value of $19 billion as of Monday.

— With assistance by Dave McCombs, and Haixing Jin

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