Hynix Creditors To Seek Bids for Controlling Stake

Law360, New York (September 8, 2009, 3:25 PM EDT) -- Creditors of South Korea-based Hynix Semiconductor Inc. reportedly are planning to issue invitations to local companies to bid on a controlling stake in the top semiconductor supplier.

An official of Hynix creditor Korea Exchange Bank told the Wall Street Journal on Sept. 7 that 43 local companies will be asked to file preliminary bids. Creditors initially had reached out to both local and foreign investors, but only local ones expressed interest, according to the newspaper.

The collected preliminary bidders then will undergo a final round of...
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