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Chinese Chip Maker Tsinghua Unigroup Plans $23 Billion Bid for Micron

China’s state-owned Tsinghua Unigroup plans to submit an offer to buy U.S. chip maker Micron Technology for $21 a share or $23 billion, according to Dow Jones.

If the deal goes through, it would be the biggest Chinese takeover of a U.S. company, dwarfing the $7 billion takeover of Smithfield Foods by Shuanghui International in May 2013.

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This article originally appeared on Recode.net.

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