Micron likely to acquire bankrupt DRAM maker Elpida

Micron likely to acquire bankrupt DRAM maker Elpida
The Japanese chipmaker Elpida Memory, who filed for bankruptcy protection in February, is close to being acquired by U.S.-based Micron Technology.

Liabilities, as of March 2011, were $5.5 billion and the company's desperate attempts to refinance or get a bailout from the Japanese government failed. Elpida was Japan's last DRAM maker and the company was ultimately done in by a Yen at its strongest levels since the end of World War II. Furthermore, South Korean rivals like Samsung managed to take large market share in a short period of time thanks to cost efficiency.

At the time of the bankruptcy, Elpida and Micron at 12.1 percent market share each.

Micron bid $2.5 billion and pledged to keep the company's plants open and employees hired.

Written by: Andre Yoskowitz @ 6 May 2012 19:27
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