By Sonya Rabbitte, 4 December 2001 11:30
NEWS Shares in semiconductor manufacturer Hynix jumped over 15 per cent yesterday after the cash strapped Korean firm confirmed it was in alliance talks with US rival Micron Technologies. Hynix shares closed up 15.20 per cent yesterday at the end of Nasdaq trading while Micron shares were up 5.51 per cent. Hynix, which accrued debts of $9.7bn this year, recently received a $7bn bail-out from the Korean government after verging on bankruptcy for several months. While both companies remained reticent about the nature of the talks, Hynix admitted that a merger could be on the cards.
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