Micron and Elpida Announce Clearance of Transaction by Japan Fair Trade
BOISE, Idaho, and TOKYO, Dec. 21, 2012 (GLOBE NEWSWIRE) -- Micron Technology,
Inc. (Nasdaq:MU) ("Micron") and Elpida Memory, Inc. ("Elpida") today announced
that the Japan Fair Trade Commission has cleared Micron's previously announced
acquisition of Elpida. Clearance under Japan's Act on Prohibition of Private
Monopolization and Maintenance of Fair Trade (Act No. 54 of April 14, 1947)
satisfies one of the conditions necessary for consummation of the transaction.
The transaction has also cleared premerger review in the United States, Czech
Republic and Korea.
The closing of the transaction remains subject to other conditions—including
approval by Elpida creditors, the Tokyo District Court and regulatory
approvals in other countries—and is expected to be completed in the first half
of calendar 2013. Elpida's proposed reorganization plan was submitted to the
Tokyo District Court on Aug. 21, 2012, and the Tokyo District Court's approved
the submission of Elpida's proposed reorganization plan to creditors on
October 31, 2012.
Elpida Memory, Inc. is a leading manufacturer of Dynamic Random Access Memory
(DRAM) integrated circuits. The company's design, manufacturing and sales
operations are backed by world class technological expertise. Its 300mm
manufacturing facilities, consisting of its Hiroshima Plant and a Taiwan-based
joint venture, Rexchip Electronics, utilize the most advanced manufacturing
technologies available. Elpida's portfolio features such characteristics as
high-density, high-speed, low power and small packaging profiles. The company
provides DRAM solutions across a wide range of applications, including
personal computers, servers, mobile devices and digital consumer electronics.
More information can be found at http://www.elpida.com.
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.
The Micron Technology, Inc. logo is available at
Micron and the Micron orbit logo are trademarks of Micron Technology, Inc. All
other trademarks are the property of their respective owners.
CONTACT: Kipp Bedard
Micron Investor Relations
Micron Media Relations
Yukio Sakamoto, Elpida Trustee
Nobuaki Kobayashi, Elpida Trustee, Attorney-at-Law
Takao Adachi, Director and Executive Officer,
Elpida Public Relations
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