SEOUL, Korea, December 3, 2001
hynix Semiconductor Inc.(KSC:00660.KS) and Micron Technology, Inc.(NYSE:MU) announced today they will engage in discussions regarding a possible strategic alliance or other transaction. These discussions will be exploratory in nature.
Mr. Steve Appleton, Chairman and CEO of Micron and Mr. C.S. Park, Chairman and CEO of hynix said: “Both companies are evaluating a broad array of strategic options.” Mr. Park further commented, “ This effort represents a part of hynix’s ongoing evaluation of possible steps to maximize stakeholder value in the face of an unprecedented downturn in the semiconductor industry.”
