April 25, 2024
Stocks & Bonds
[EQUITIES] ‘SK hynix’s bid for Toshiba unit attractive’
[THE INVESTOR] SK hynix’s bid to take over the memory chip unit of Japan’s Toshiba is attractive, said KB Investment and Securities on May 22, maintaining a “buy” recommendation and 66,000 own (US$59.02) target price.
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SK hynix and Bain Capital has formed a consortium for the second round of bidding to acquire controlling stake in the chipmaking unit, according to analysts Nam Dae-jong and Kim Dong-won.
It offered a price slightly over 1 trillion yen (US$8 billion) which is less than that of its competitors and will not overstrain its resources, said the analysts.
By Hwang You-mee (glamazon@heraldcorp.com)
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