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Article: S.KOREAN CO HYNIX CREDITORS EXTEND BID DEADLINE BY 2 WEEKS.
- Article from:
- AsiaPulse News
- Article date:
- November 3, 2009
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SEOUL, Nov 2 Asia Pulse - Creditors of Hynix Semiconductor Inc. (KSE:000660) said Monday that they have extended a deadline for bids to take over the world's No. 2 memory chipmaker at the request of the sole bidder, Hyosung Group.
Korea Exchange Bank (KEB), representing Hynix creditors, said the deadline will be extended by two weeks, and Hyosung will be required to submit a preliminary bid by November 16.
Hyosung, a mid-sized South Korean conglomerate, said it has made the request because it needs more time to pick an advisory firm, finalize its bid terms and prepare for a subsequent due diligence.
After offering a preliminary bid, Hyosung will ...