Micron Confirms Chinese Antitrust Clearance

On Tuesday, Micron Technology (NASDAQ: MU  ) confirmed that it has obtained antitrust clearance from China's Ministry of Commerce for its acquisition of DRAM memory maker Elpida Memory. Pre-merger approvals had already been obtained from the U.S., Czech Republic, Japan, South Korea, Singapore, and Taiwan, leaving only China's assent as necessary for the merger to proceed.

In a statement, Micron noted that there are still a few "conditions" that need to be satisfied before closing. Notably, the Tokyo District Court must approve Elpida's reorganization plan, as must the United States Bankruptcy Court for the District of Delaware. Also, Elpida's own creditors have a vote scheduled to approve the plan on Feb. 26.

Still, assuming these hurdles can be overcome, Micron and Elpida plan to close the transaction in the first half of 2013. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2264685, ~/Articles/ArticleHandler.aspx, 4/18/2014 4:59:20 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement