Micron Technology Agrees to Buy Rest of Inotera for $3.2 Billionby
Offer is worth NT$30 a share for 67 percent not owned already
All of Inotera's DRAM output already bought by Micron
Micron Technology Inc. agreed to buy the rest of Inotera Memories Inc. it doesn’t already own for $3.2 billion excluding cash and debt, the latest consolidation in the global semiconductor market.
The offer is worth NT$30 per Inotera share, the Boise, Idaho-based company said in a statement Monday. Micron, which now owns about 33 percent of Inotera, said both sides have 60 days to agree on the final details of the deal.
Micron, which makes chips that provide the short-term memory in computers and servers, already buys all of Inotera’s DRAM production and expects the deal to close by the middle of next year.
The combined company had earnings before interest, tax, depreciation and amortization of about $7 billion in the last 12 months, Micron said in a statement.