Micron Technology (MU) in talks to buy Elpida
Micron Technology (MU), is looking to buy Elpida Memory in a sale, its being widely reported. Elpida filed for bankruptcy last February. The approval from a Tokyo District Court was delivered today, allowing Micron (who recently lost its CEO in a plane crash) to negotiate to acquire Elpida. TPG Capital, a private equity firm, also may have a bid in. From Bloomberg:
Acquiring Elpida would double Micron’s share of the global market for dynamic random-access memory, the most widely used chips in PCs, to about 24 percent, helping it compete against industry leader Samsung Electronics Co. (005930) Elpida, which has three factories, also supplies Apple Inc. (AAPL) with chips used in iPhones. [Bloomberg]
Elpida had recently, prior to filing for bankruptcy, pushed to meet a reram 30nm non volatile flash memory 2013 production deadline.