Micron Technology – MU – Discussions With Elpida Memory Trustees to acquire Elpida’s business.

Micron Technology, Inc. (Nasdaq:MU), confirmed it is engaged in discussions with Elpida Memory, Inc.’s trustees to acquire Elpida’s business.

MU made the announcement following a May 10 approval by the Tokyo District Court allowing Elpida’s trustees to negotiate an agreement with Micron, pursuant to which Micron would become Elpida’s sponsor and acquire Elpida’s entire business in accordance with the corporate reorganization proceedings. Elpida, a semiconductor DRAM memory manufacturer, filed a petition for commencement of Corporate Reorganization Proceedings with the Tokyo District Court under the Corporate Reorganization Act of Japan on Feb. 27, 2012, which proceedings have been commenced.

Elpida recently undertook a bidding process to select a company to “sponsor” Elpida during its Corporate Reorganization proceedings and to acquire the company’s business. In that process, Elpida has decided to move forward in negotiations with Micron as the potential sponsor.

Micron Technology, Inc. (MU), is one of the world’s leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products.

MU is a manufacturer and marketer of semiconductor devices, principally dynamic random access memory (DRAM), Nandi Flash memory (NAND Flash and NOR Flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. In addition, the Company manufacture semiconductor components for complementary metal-oxide semiconductor (CMOS) image sensors and other semiconductor products. During the fiscal year ended September 2, 2010, the Company had two segments: Memory and Numonyx. On May 7, 2010, the Company acquired Numonyx Holdings B.V. (Numonyx), which manufactures and sells NOR Flash, NAND Flash, DRAM and Phase Change memory technologies and products.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.