By Wen-Yee Lee
TAIPEI, Jan 19 (Reuters) - Shares of Taiwan’s Powerchip Semiconductor Manufacturing Corp (6770.TW) rose nearly 10% on Monday after U.S. memory chipmaker Micron Technology (MU.O) 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.

- Taiwan's Powerchip Semiconductor Manufacturing Corp shares increased by nearly 10% following news of an acquisition by Micron Technology.  
- Micron announced it signed a letter of intent to purchase Powerchip's P5 fabrication site in Tongluo for $1.8 billion in cash.  
- This acquisition could have significant implications for both companies' market positions in the semiconductor industry.

Micron's $1.8 billion acquisition boosts Powerchip shares