Elpida's Bankruptcy Plan, $2.2B Micron Deal OK'd In Tokyo

Law360, Wilmington (February 28, 2013, 1:19 PM EST) -- A Japanese bankruptcy court on Wednesday approved Elpida Memory Inc.'s reorganization plan premised on the $2.2 billion sale of the chipmaker to Micron Technology Inc., leaving recognition of the plan by a Delaware bankruptcy judge as the deal’s last major hurdle.

The order from the Tokyo District Court followed a creditor vote in favor of the plan that concluded Tuesday, according to a statement from Idaho-based Micron.

“This is an important milestone that brings us a significant step closer to Micron and Elpida becoming the world's...
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