Tsinghua Unigroup, a state-backed investment vehicle affiliated with Tsinghua University in Beijing, could face significant headwinds in its attempt to acquire US-listed memory chip maker Micron Technology.
According to a Wall Street Journal report citing sources familiar with the matter, Tsinghua Unigroup has prepared a $23 billion bid to buy Micron.
If the deal goes through it will be the largest overseas acquisition by a Chinese company, exceeding Cnooc's record $15.1 billion purchase of Canada's Nexen in 2013.
An employee at Tsinghua Unigroup told FinanceAsia she could not speak about the deal as it hasn't been settled yet.
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