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中國(guó)國(guó)企紫光集團(tuán)擬斥資230億美元收購(gòu)美光科技

中國(guó)國(guó)企紫光集團(tuán)擬斥資230億美元收購(gòu)美光科技

Geoffrey Smith 2015年07月16日
美光科技成了芯片制造行業(yè)整合風(fēng)潮中的最新目標(biāo)。如果進(jìn)展順利,這將成為史上規(guī)模最大的中國(guó)企業(yè)在美收購(gòu)行動(dòng),但它很可能面臨美國(guó)政府嚴(yán)苛的安全審核。

????據(jù)《華爾街日?qǐng)?bào)》報(bào)道,中國(guó)最大微芯片制造商紫光集團(tuán)正準(zhǔn)備斥資230億美元收購(gòu)美國(guó)內(nèi)存芯片廠商美光科技。

????如果進(jìn)行順利,這將成為史上規(guī)模最大的中國(guó)企業(yè)在美收購(gòu)行動(dòng),遠(yuǎn)遠(yuǎn)超過(guò)2013年雙匯以71億美元收購(gòu)史密斯菲爾德食品的紀(jì)錄。

????不過(guò),《華爾街日?qǐng)?bào)》稱本次收購(gòu)還只是處于籌備階段。報(bào)道還引述美光科技發(fā)言人的話說(shuō),該公司尚未接到任何收購(gòu)報(bào)價(jià)。

????如果付諸實(shí)施,它很可能引起美國(guó)政府的密切關(guān)注。以前美方曾以安全為理由多次阻止中國(guó)公司收購(gòu)美國(guó)企業(yè),最著名的案例莫過(guò)于2005年中海油收購(gòu)優(yōu)尼科的計(jì)劃以失敗告終。

????報(bào)道指出,最有可能審核本次收購(gòu)的是由來(lái)自十幾個(gè)政府部門(mén)的官員組成的美國(guó)外國(guó)投資委員會(huì)。

????不過(guò),紫光集團(tuán)在美國(guó)確實(shí)有一些盟友。去年,英特爾收購(gòu)了該集團(tuán)20%的股份;今年5月,惠普將設(shè)在中國(guó)的通信網(wǎng)絡(luò)子公司的多數(shù)股權(quán)轉(zhuǎn)讓給了紫光。

????紫光集團(tuán)為清華控股旗下國(guó)有企業(yè),后者則由清華大學(xué)控股。該集團(tuán)以成為芯片制造行業(yè)領(lǐng)軍者為己任,它在這個(gè)領(lǐng)域仍落后于美國(guó)、臺(tái)灣和韓國(guó)公司。去年中國(guó)設(shè)立了200億美元的政府基金,以提升中國(guó)的芯片制造水平。

????紫光集團(tuán)打算買(mǎi)技術(shù),而不是開(kāi)發(fā)技術(shù)。但近幾周,芯片領(lǐng)域出現(xiàn)了一陣并購(gòu)風(fēng)潮,安華高科技 斥資370億美元收購(gòu)了博通;英特爾也和Altera達(dá)成協(xié)議,將以167億美元的價(jià)格收購(gòu)后者。這縮小了紫光的可選范圍。

????如若收購(gòu)成為現(xiàn)實(shí),紫光的收購(gòu)成本將遠(yuǎn)低于去年,當(dāng)時(shí)周期性因素仍在支撐美光的股價(jià)。從那時(shí)起,美光的股價(jià)已下跌50%以上,部分原因正是投資者認(rèn)為該公司將錯(cuò)過(guò)行業(yè)整合的順風(fēng)車(chē)。(財(cái)富中文網(wǎng))

????譯者:Charlie

????校對(duì):詹妮

????Tsinhgua Unigroup Ltd., the biggest microchip company in China, is preparing a $23 billion bid for memory chip maker Micron Technology Inc. MU 11.30% , according to The Wall Street Journal.

????If it goes ahead, the bid would be the biggest ever acquisition of a U.S. company by a Chinese one, dwarfing the $7.1 billion purchase of Smithfield Foods by Shuanghui International in 2013.

????However, the WSJ said that the deal is still only being prepared, and quoted a Micron spokesman as saying that it hadn’t received an offer.

????If it does go ahead, the deal is likely to attract the scrutiny of U.S. officials, who have blocked Chinese takeover attempts in the past on security grounds–notably, CNOOC’s bid for oil producer Unocal Inc. in 2005.

????The body most likely to review it would be the Committee on Foreign Investments in the United States, which brings together officials from more than a dozen government departments and agencies, the WSJ said.

????Tsinghua Unigroup does have some friends in the U.S. though. Intel Corp. INTC -0.27% bought a 20% stake in the company last year, while Hewlett-Packard HPQ -0.75% sold its Chinese-based networking subsidiary to it in May.

????The state-owned company, set up by academics at the elite Tsinghua University, has taken upon itself the role of becoming a national champion in the chip-making sector, where it has lagged U.S., Taiwanese and Korean companies. China set up a $20 billion state-backed fund last year to bolster its expertise in the sector.

????Tsinghua’s options for buying in expertise rather than developing it have narrowed in recent weeks due to a wave of consolidation in the sector, with Broadcom Corp. BRCM 1.28% buying Avago Technologies Ltd. for $37 billion, and Intel agreeing to buy Altera [fortune-stock symbol=”ALTR” for $16.7 billion.

????A deal would be a lot cheaper for Tsinghua now than it would have been last year, when Micron’s shares were still supported by cyclical tailwinds. They’ve fallen by more than 50% since then–due also in part to the perception that it is missing out on the consolidation trend.

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