31 Jul '13, 11pm

Micron Closes Elpida Acquisition

SAN FRANCISCO -- US memory chip vendor Micron Technology Inc. announced the closing of its $2.5 billion deal to acquire bankrupt Japanese memory chip vendor Elpida Memory Inc., completing a year-long quest to buy its former rival. Micron announced Wednesday that it closed the deal to acquire 100 percent of Elpida's equity. Micron also announced it completed a separate deal to acquire 24 percent of Rexchip Electronics Corp. from Taiwan's Power Chip Technology Corp. and certain of its affiliates. Micron now will hold about 89 percent of Rexchip, including Elpida's 65 percent stake in the company. Micron's acquisition of Elpida, which was in process for over a year (see Micron confirms Elpida deal, also plans Rexchip purchase ), survived challenges from several of Elpida's creditors that claimed the deal didn't value Elpida fairly (see Bondholders say Elpida is grossly underv...

Full article: http://www.eetimes.com/document.asp?doc_id=1319103&itc=ee...

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