Elpida Wins Tokyo Court Approval for $2.2 Billion Sale to Micron
This article is for subscribers only.
Elpida Memory Inc., the Japanese chipmaker in bankruptcy protection, won Tokyo District Court approval for a 200 billion yen ($2.2 billion) sale to Micron Technology Inc., clearing the last major hurdle in the takeover.
The required majority of creditors backed the plan, according to a statement from the trustees of the Tokyo-based company. The deadline for voting was Feb. 26. The Tokyo District Court in October picked Boise, Idaho-based Micron as preferred bidder over a rival plan put forward by some bondholders.