Micron's $2.5B Buyout Covers Bankrupt Elpida's Debts

Law360, New York (July 2, 2012, 1:46 PM EDT) -- Idaho-based Micron Technology Inc. will pluck rival computer chip maker Elpida Memory Inc. from bankruptcy by acquiring the Japanese competitor for 200 billion yen ($2.5 billion), with 140 billion yen going to wipe out Elpida's debts, the parties announced Monday.

The buyout also gives Micron almost total control of Rexchip Electronics Corp., another manufacturer of dynamic random access memory chips, which account for much of the data storage capabilities in PCs, according to a joint statement from Micron and Elpida.

Combining the companies will strengthen Micron's...
To view the full article, register now.