Where’s The Sucker?
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?