BOISE, Idaho, May 10, 2012 (GLOBE NEWSWIRE) -- Micron Technology, Inc.
(Nasdaq:MU), today confirmed it is engaged in discussions with Elpida
Memory, Inc.'s trustees to acquire Elpida's business.
Micron made the announcement following a May 10 approval by the Tokyo
District Court allowing Elpida's trustees to negotiate an agreement
with Micron, pursuant to which Micron would become Elpida's sponsor and
acquire Elpida's entire business in accordance with the corporate
reorganization proceedings. Elpida, a semiconductor DRAM memory
manufacturer, filed a petition for commencement of Corporate
Reorganization Proceedings with the Tokyo District Court under the
Corporate Reorganization Act of Japan on Feb. 27, 2012, which
proceedings have been commenced.
Elpida recently undertook a bidding process to select a company to
"sponsor" Elpida during its Corporate Reorganization proceedings and to
acquire the company's business. In that process, Elpida has decided to
move forward in negotiations with Micron as the potential sponsor.
Micron Technology, Inc., is one of the world's leading providers of
advanced semiconductor solutions. Through its worldwide operations,
Micron manufactures and markets a full range of DRAM, NAND and NOR
flash memory, as well as other innovative memory technologies,
packaging solutions and semiconductor systems for use in leading-edge
computing, consumer, networking, embedded and mobile products. Micron's
common stock is traded on the NASDAQ under the MU symbol. To learn more
about Micron Technology, Inc., visit www.micron.com.
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Inc. All other trademarks are the property of their respective owners.
CONTACT: Daniel Francisco
Micron Technology, Inc.