Hynix board forced to meet
Bad assets plans
Hynix Semiconductor Inc's board is due to meet today to debate the possible breakup of the cash strapped Korean company.
According to Reuters reports, the board was forced into setting the meeting to debate creditors' proposals for breaking up the company by the Financial Supervisory Commission, which had threatened to put the firm into court receivership.
According to reports, the plan would lead to the liquidation of "bad" assets with good assets being continued or sold off. The company is on the brink after its board rejected a buyout proposal for its DRAM operations from US vendor Micron Technology Inc.
The rejection of the Micron offer led to a halt to a gentle recovery in DRAM prices. Yesterday, prices on key DRAM lines were continuing to drift downwards, according to online market DRAMExchange.
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