[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.
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.
