Earlier this week Micron has dismissed an informal $23 billion offer from Tsinghua Unigroup, a private equity subsidiary of Tsinghua Holdings, believing that a deal would be blocked by US regulators.

Analysts on both sides of the Pacific have downplayed its likelihood of the deal going through because the US is completely obsessed that China is spying on it, despite most of the evidence that it is more the other way around.

Xu Jinghong, chairman of Tsinghua Holdings is hopeful, although his firm has not held any discussions with US regulators about Micron.

"We hope the deal can eventually come through. It would be of great significance to China's domestic semiconductor industry," Xu told Reuters.

Xu added that his firm has not received any directive from Chinese government about the potential offer.

Tsinghua Unigroup has consolidated China's semiconductor sector and received financial backing from the state to close the technological gap with industry leaders like Qualcomm.

The company is wary about being seen as an extension of China's government, and says its acquisitions have all been carried out with private capital.