Micron Technology (MU)

[chmcnfunds]

Micron reportedly doesn't consider Tsinghua deal feasible; shares -4.6%

Jul 20 2015, 13:06 ET | About: Micron Technology Inc. (MU) | By: Eric Jhonsa, SA News Editor Contact this editor with comments or a news tip

A few days after John McCain and other politicians raised concerns (in response to a WSJ report) about a bid for Micron (NASDAQ:MU) by China's state-owned Tsinghua Unigroup, Reuters reports Micron has told Tsinghua it doesn't consider a deal possible "because U.S. authorities would block the deal due to national security concerns."The news service adds Tsinghua "had communicated its interest to Micron about an acquisition but had not presented a formal offer" as of the end of last week, and that Micron "has sought advice from an investment bank but has not officially hired one since it is not seriously considering Tsinghua's offer."Micron has sold off on a day the Nasdaq is up 0.3%. Shares are still up 9% from where they traded before the WSJ's report arrived. They're down 45% YTD.
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http://seekingalpha.com/news/2639035-micron-reportedly-doesnt-consider-tsinghua-deal-feasible-shares-minus-4_6-percent

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