Chinese Group Prepares $23 Billion bid for Micron

Tsinghua Unigroup of China is reported to be preparing a $23 billion bid for Micron Technology which, if successful, would be the largest Chinese takeover of a US company.

Tsinghua is China’s largest state-owned chip design company and is believed to have been searching for a suitable takeover target in the US for some time. However, the US government has previously blocked attempts by Chinese firms to takeover US companies on the grounds of national security. If Tsinghua makes a move on Micron, any proposed deal is likely to come under close scrutiny by the Committee on Foreign Investments in the United States, which brings together officials from more than a dozen government departments and agencies.