28 Jun '12, 7pm

Micron reportedly strikes deal to buy Elpida for $2.5 billion: via @ee_times

SAN FRANCISCO—U.S.-based memory chip vendor Micron Technology Inc. has reached a deal to acquire bankrupt Japanese DRAM vendor Elpida Memory Inc. for roughly 200 billion yen (about $2.5 billion), according to an English language report by Japan's Nikkei newspaper. According to the report, about 140 billion yen (about $1.75 billion) of the acquisition price will go to pay off Elpida's debt. About 70 percent of Elpida's outstanding debt, totaling about 420 billion yen (more than $5.2 billion) won't be repaid, according to the report. According to C.J. Muse, an analyst with Barclays Capital, the actual purchase price Micron will reportedly pay for Elpida is roughly the $1.75 billion that will go toward Elpida creditors. The remainder, about 60 billion yen ($755.5 million), will go toward investments to upgrade Elpida's production facilities, Muse said. "While details are stil...

Full article: http://www.eetimes.com/electronics-news/4376412/Micron-re...

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