By Wen-Yee Lee
TAIPEI, Jan 19 (Reuters) – Shares of Taiwan’s Powerchip Semiconductor Manufacturing Corp rose nearly 10% on Monday after U.S. memory chipmaker Micron Technology said it would buy a fabrication plant from the company.
Micron Technology on Saturday said it had signed a letter of intent to acquire Powerchip’s P5 fabrication site in Tongluo, Miaoli County, Taiwan, for $1.8 billion in cash.
(Reporting by Wen-Yee Lee; Editing by Tom Hogue)
