Want to buy a DRAM company? Want a hole in the head? You'd think it's a no-brainer, but Credit Suisse wants purchase offers in for Hynix before the end of next week.
As you might expect, Hynix's figures are now looking good. Q4 showed a $600 million plus profit. Q3's profit was $183 million. Q408's loss was $700 million.
Q408 is a more typical quarter for a DRAM company than Q409.
While Hynix is carrying $4.6 billion of debt.
So where's the sucker?
Do you think they will take $1 for it and we can do our own Pheonix 4 ?
I'm afraid they won't, Mike, these bankers are sniffing a chance to get some of their $4.6 billion back. If we could get RBS to put up the remaining $4,599,999,999 we would have a deal. RBS are clearly suckers and have just put up the money to let Kraft buy Cadbury's. Then we could be the next Phoenix 4.