The board of troubled South Korean semiconductor firm Hynix has accepted a plan by its creditors to split the company, after rejecting a $3.4bn asset sale to US rival Micron.
Creditors had been stunned by the board's rejection last week of the Micron offer, which endangered chances of Hynix paying back some of the $5bn it owes them.
"The follow-up measures require that Hynix's restructuring committee review a restructuring plan, to be proposed by an outside consultant," the company said in a statement.
"Such an outside consultant and its scope of work will be decided by the major creditor banks in consultation with Hynix."
The Hynix board of directors agreed that any solutions put forth by the restructuring committee had to be approved by them and the company's shareholders, the statement added.
Analysts said that this agreement could lead to renewed interest from Micron.
Hynix suffered badly when demand for its dynamic random access memory (DRam) chips collapsed during the tech slump.
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