Report: Tsinghua Unigroup to bid $23 billion for Micron

China's Tsinghua Unigroup, Ltd. may be preparing a $23 billion offer to buy out memory maker Micron Technologies. According to a report by Bloomberg, the buyout offer has already received approval from Chinese authorities, but would still be subject to regulatory approval in the US. If approved, the deal would give China control of the fifth-largest chipmaker in the world by revenue.

When contacted for comment, Tsinghua Unigroup Chairman Zhao Weiguo told Bloomberg that the company is "very interested in cooperation with Micron." A Micron spokesman told Bloomberg that it has not received an offer, and it does not comment on rumor or speculation.

The buyout attempt would come at a low point for Micron: Bloomberg notes the company's stock price is down 50% this year after it reported its first revenue decline in over two years. 

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