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Thursday, 2 May, 2002, 19:02 GMT 20:02 UK
Micron abandons Hynix buyout talks
Semiconductors
Memory chip prices could gyrate a while longer
Micron, the US's biggest maker of memory chips, has said it is being investigated for anti-competitive practices by the US Justice Department.

Last month, Micron ditched plans to buy into Korean chip giant Hynix after months of talks failed to produce a deal.

Micron was also proposing to spend $3bn to take a 15% stake in the rump of the Korean firm.

"After careful evaluation, we are unable to discern a process that would allow the numerous parties involved to reach agreement in a timely manner," Micron chairman Steve Appleton said.

Thursday's announcement leaves Hynix's fate in the hands of creditors owed more than $5bn.

See also:

02 May 02 | Business
Micron abandons Hynix buyout talks
30 Apr 02 | Business
Hynix ditches Micron rescue deal
23 Apr 02 | Asia-Pacific
Strike threat over S Korean takeover
04 Feb 02 | Business
Hynix 'shuns Infineon offer'
04 Jan 02 | Business
Micron-Hynix deal inches closer
06 Dec 01 | Business
When the chips are down
03 Dec 01 | Business
Hynix mulls merger with Micron
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