Deals
Micron Chosen as Elpida Buyer by Tokyo Court
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The Tokyo District Court picked Micron Technology Inc. as a buyer for Elpida Memory Inc. to revive the bankrupt Japanese chipmaker, dismissing an alternative plan put forward by bondholders.
The court said creditors must vote on a reorganization plan that includes the Micron offer by Feb. 26, Elpida said in a statement today. Boise, Idaho-based Micron offered 200 billion yen ($2.5 billion) in July to take over Elpida. Bondholders challenged the deal, calling it “severely detrimental.”