China’s largest state-owned computer chip design firm, Tsinghua Unigroup Ltd. has offered $23 billion to buy Micron Technology, one of the largest U.S. memory makers, according to The Wall Street Journal.

If Micron accepts, the deal would be the biggest Chinese takeover of a U.S. company on record.

Micron, however, denied the reports.

“While Micron does not comment on rumors or speculation, we can confirm that we have not received an offer,” said Dan Francisco, Micron’s media relations director.

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