Saturday, 12 May 2012
Micron Technology in Deal Discussions With Elpida Memory
Posted on 06:24 by Maria Scott
The semiconductor company Micron Technology said on Thursday that it was in discussions to acquire a struggling rival, the Japanese microchip manufacturer Elpida Memory.
The deal would help expand Micron’s presence in the global microchip market, and comes less than a week after SK Hynix of South Korea dropped out of the race to acquire the Elpida.
A number of bidders have been circling Elpida since the company filed for bankruptcy protection in February. It has more than $5 billion in debt, and the company struggled with weak consumer demand amid the struggling global economy.
In a statement, Micron, based in Boise, Idaho, confirmed that it had entered into negotiations with Elpida about a potential deal.
“Elpida has decided to move forward in negotiations with Micron as the potential sponsor,” the American company said in a statement.
Micron did not provide any detail about the potential deal.
Not everyone is happy with Micron’s interest in Elpida. A number of the Elpida debtholders have criticized efforts to sell the company, saying that they could put forward their own restructuring plan if the proposed sale price is too low.
Source: http://dealbook.nytimes.com/2012/05/10/micron-technology-in-talks-to-buy-elpida-memory/?ref=technology
The deal would help expand Micron’s presence in the global microchip market, and comes less than a week after SK Hynix of South Korea dropped out of the race to acquire the Elpida.
A number of bidders have been circling Elpida since the company filed for bankruptcy protection in February. It has more than $5 billion in debt, and the company struggled with weak consumer demand amid the struggling global economy.
In a statement, Micron, based in Boise, Idaho, confirmed that it had entered into negotiations with Elpida about a potential deal.
“Elpida has decided to move forward in negotiations with Micron as the potential sponsor,” the American company said in a statement.
Micron did not provide any detail about the potential deal.
Not everyone is happy with Micron’s interest in Elpida. A number of the Elpida debtholders have criticized efforts to sell the company, saying that they could put forward their own restructuring plan if the proposed sale price is too low.
Source: http://dealbook.nytimes.com/2012/05/10/micron-technology-in-talks-to-buy-elpida-memory/?ref=technology
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