• Most Popular
  • Most Shared

Hynix to buy 640 mln ProMOS shares at T$7.96/shr

Mon Jun 16, 2008 10:07pm EDT

Stocks

   

SEOUL, June 17 (Reuters) - Hynix Semiconductor Inc (000660.KS), the world's No. 2 maker of memory chips, said on Tuesday it would buy 640 million shares in Taiwan's ProMOS Technologies (5387.TWO) at T$7.96 per share.

ProMOS shares closed at T7.07 on Monday.

The two companies agreed in early May on the stake deal, where Hynix would acquire a stake in ProMOS alone or with other financial investors in a private placement.

Hynix said it had not finalised the exact timing and method of the acquisition.

ProMOS officials were not available for comment. (Reporting by Marie-France Han and Rhee So-eui; Editing by Keiron Henderson)



More from Reuters

Photo

Fox, Time Warner Cable ink deal to avoid blackout

NEW YORK (Reuters) - Time Warner Cable and News Corp's Fox Networks Group agreed to a brief extension of their current carriage contract late on Thursday to avoid a blackout that would have prevented 13 million U.S. homes from seeing TV shows like "The Simpsons" and "House" as well as college and NFL football games.

» More Top News
A customer is served at a counter inside a foreign exchange store displaying a poster of various banknotes including the Chinese yuan or renminbi (RMB) in Hong Kong November 20, 2009. REUTERS/Bobby Yip
OUTLOOK 2010:

Be careful what you wish for

Pressure on China to loosen its grip on the yuan will continue but the U.S. should tread carefully. Here are five world market issues to watch.  Full Article 

Global Markets
Clients work out on machines at the Bally Total Fitness facility in Arvada, Colorado June 15, 2009. REUTERS/Rick Wilking

Get real with resolutions

We make them and we break them: The secret to keeping them is to avoid the impossible dream.  Full Article 

Lifestyle