Deals
Elpida Files Opposition to Bondholders Move to Stop Micron Sale
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Elpida Memory Inc., the bankrupt Japanese chipmaker, said it opposes moves by a group of bondholders to block its sale to Micron Technology Inc. because it would interfere with an “entirely fair” reorganization.
The bondholders have not presented any basis for changing terms of the sale and are attempting to “interfere with the reorganization process and sponsorship arrangement” with Micron, Elpida said in its filing to the U.S. Bankruptcy Court in Delaware Aug. 30. Tadashi Shiokai at Ashton Consulting, who works as a spokesman of the bondholders, declined to comment on the Elpida filing.