Elpida Aims To Seal $2B Micron Sale With Final Plan Approval

Law360, New York (May 22, 2013, 4:16 PM EDT) -- Elpida Memory Inc. urged a Delaware bankruptcy judge Wednesday to recognize its reorganization plan that would cement its $2 billion takeover by Micron Technologies Inc., saying acceptance of the plan is imperative to the companies' future.

The Tokyo-based memory chip producer's request comes after a Japanese bankruptcy court approved the plan in February, a ruling which was upheld by an appeals court last week, leaving recognition of the plan by the Delaware bankruptcy court as the Micron deal's last major hurdle.

Elpida says the Delaware court's...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.