SK Hynix shares jumped immediately after the news before valuation concerns saw them reverse gear to fall 2%, while the wider market“Shareholders are negative about the deal because they believe the price is too expensive. It’s good news for other memory chipmakers, because the move would lead to industry consolidation,” said Lee Seung-woo, an analyst at Eugene Investment & Securities.
FILE PHOTO: Employee walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-JiAnalysts said U.S-China tensions may have influenced Intel’s decision to sell its NAND flash memory factory in China. The moves comes a month after Kioxia cancelled a planned initial public offering amid market uncertainty.
Swan has told investors he plans to divest non-core businesses. The company earlier sold its 5G modem business to Apple IncSK Hynix said the companies aimed to obtain government approvals in late 2021, and close the deal in March 2025.The Nand Flash industry grew in the April-to-June quarter thanks to robust demand for PCs and servers as the COVID-19 pandemic forces millions of people to work from home, according to market researcher Trendforce.
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