You are not registered yet. Please click here to register!
[] (PR) Micron and Elpida Announce Sponsor Agreement - - different look at memory


Thread Tools
Old 03-07-2012, 07:23 AM   #1
News Hound
News's PC Specs
Join Date: May 19 2008
Posts: 60,641
[] (PR) Micron and Elpida Announce Sponsor Agreement

Micron Technology, Inc., and Elpida Memory, Inc.'s ("Elpida") trustees announced today that the parties have signed a definitive sponsor agreement for Micron to acquire and support Elpida. The agreement has been entered into in connection with Elpida's corporate reorganization proceedings conducted under the jurisdiction of the Tokyo District Court.

Under the agreement, 200 billion Yen (approximately USD $2.5 billion assuming 80 Yen/USD) total consideration, less certain reorganization proceeding expenses, will be used to satisfy the reorganization claims of Elpida's secured and unsecured creditors. Micron will acquire 100 percent of the equity of Elpida for 60 billion Yen (approximately USD $750 million) to be paid in cash at closing. In addition, 140 billion Yen (approximately USD $1.75 billion) in future annual installment payments through 2019 will be paid from cash flow generated from Micron's payment for foundry services provided by Elpida, as a Micron subsidiary. As a result of these payments, all pre-petition debt obligations of Elpida will be fully discharged under the corporate reorganization proceedings. The agreement also calls for Micron to provide certain financing support for Elpida capital expenditures, subject to specified conditions, and to maintain Elpida's operations and employees.

News is offline   Reply With Quote


agreement, announce, elpida, micron, sponsor, techpowerupcom

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools

Similar Threads for: [] (PR) Micron and Elpida Announce Sponsor Agreement
Thread Thread Starter Forum Replies Last Post
[DDR3 IC List] - submissions eva2000 504 28-02-2018 09:09 PM
[] Micron Emerges as Front-Runner To Buy Out Elpida News Reviews & News Online 0 08-05-2012 10:51 PM
[] Micron to Buy US $500M Worth Elpida Shares News Reviews & News Online 0 31-01-2012 01:23 AM
[] Micron, Elpida and Nanya Reportedly Having Merger Talks News Reviews & News Online 0 24-01-2012 09:20 PM
Elpida vs Micron D9 DDR3 dreamaxx DDR3 Intel Memory 38 11-04-2010 12:34 PM

All times are GMT +11. The time now is 05:50 PM.