Creditors of troubled computer memory chip maker Hynix Semiconductor are considering asking arch-rival Samsung Electronics to temporarily take over operations, according to reports in the Financial Times today.
The creditors are believed to be considering the action in order to avoid Hynix falling into court receivership or liquidation. Samsung is reported to have rejected the idea outright.
Hynix suffered badly when demand for its DRam chips collapsed during the technology slump resulting in a total loss of $3.9bn last year.
The past few months have been no less turbulent for Hynix. Takeover talks with potential buyer US-based Micron collapsed earlier this year after the former management at Hynix rejected a $3bn-plus offer for assets.
Had it been accepted, the offer would have made Micron the biggest memory player in the market.
The decision to it turn down was badly received by Hynix's creditors, which are believed to be owed over $6bn.
Hynix is also to be investigated in a US Department of Justice probe into anti-competitive behaviour in the chip sector.
The company said that it would co-operate with investigators and that it had nothing to hide.
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