Unigroup preparing $23b bid for Micron

Zhao said earlier that the company viewed acquisition as an efficient way to grow its technology inventory and lift its top-tier global ranking.

Unigroup and other local players kicked off a series of overseas takeovers starting from last year. One of its subsidiaries spent $2.5 billion to buy shares in a communications hardware arm of Hewlett-Packard Co.

It remains unclear, meanwhile, how the US regulators will react to Unigroup's ambitious plan, with Washington becoming increasingly uncomfortable about China's advances in high technology.

In April, the US banned Intel Corp from exporting high-performance processors used in Chinese supercomputers.

Lenovo Group Ltd's $2.3 billion acquisition of IBM Corp's x86 server unit also faced opposition from the US' Committee on Foreign Investment because of information security concerns.

Cao from Forrester said the deal could "take time", even if the US approves the takeover.

Micron is one of the world's few memory vendors that can rival Samsung Electronics Co Ltd. Its largest project on the Chinese mainland is a high-end memory module assembly and integrated circuit component testing facility in the northwestern city of Xi'an, the capital of Shaanxi province.