US Court Extends Oversight Of Micron's $2.5B Elpida Buy

Law360, Wilmington (September 18, 2012, 4:07 PM EDT) -- A Delaware bankruptcy judge on Tuesday agreed to exert more control over Elpida Memory Inc.'s U.S. assets through the Japanese chipmaker's Chapter 15 case, a victory for bondholders who claim the company is selling too cheap in its $2.5 billion deal with Micron Technology Inc.

At the request of U.S. bondholders owed nearly $300 million, Elpida is now barred from selling or transferring any of the company’s U.S. assets without first giving the bondholders 21 days’ notice or obtaining approval from the bankruptcy court, and also...
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