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.
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CONTACT: Kipp Bedard Micron Investor Relations firstname.lastname@example.org (208) 368-4465 Daniel Francisco Micron Media Relations email@example.com (208) 368-5584 Yukio Sakamoto, Elpida Trustee Nobuaki Kobayashi, Elpida Trustee, Attorney-at-Law Takao Adachi, Director and Executive Officer, Elpida Public Relations +81-3-3281-1500
Source:Micron Technology, Inc.