Cash-strapped Korean chip maker Hynix Semiconductor is still pushing for a $4bn merger with Micron, according to a Hynix official.
Micron has increased its equity-funded bid for Hynix from $3.8bn to about $4bn, putting it in pole position to clinch a deal after Germany's Infineon withdrew from negotiations.
A Hynix spokesman said that its directors had "seriously discussed" the possibility of rejecting Micron's bid and remaining a standalone business.
But Daniel Behrendt, of Hynix's investor relations team, explained that the company had too many debts, and that it was "not feasible" for it to survive alone as it needed cash to stay competitive.
Dram chips were priced too low to bring in the sort of cash the company needed, he added.
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