BOISE, Idaho, and TOKYO, Feb. 19, 2013 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq:MU) ("Micron") and Elpida Memory, Inc. ("Elpida") today announced that the Chinese Ministry of Commerce has given antitrust clearance for Micron's previously announced proposed acquisition of Elpida. China's approval was the last remaining antitrust pre-merger clearance required for completion of the transaction. Pre-merger approvals were previously obtained from the United States, Czech Republic, Japan, South Korea, Singapore and Taiwan.
The closing of the transaction remains subject to the satisfaction or waiver of certain other conditions—including approval of Elpida's reorganization plan by the Tokyo District Court following a vote by the creditors and recognition of such plan by the United States Bankruptcy Court for the District of Delaware (or alternative court actions providing substantially similar effect). Elpida and Micron continue to target completion of the transaction 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 approved the submission of Elpida's proposed reorganization plan to creditors on October 31, 2012. Creditor votes are due by February 26, 2013.
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 email@example.com (208) 368-4465 Daniel Francisco Micron Media Relations firstname.lastname@example.org (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