Micron Technology, Inc. Wins Elpida Memory, Inc. Bidding With $2.5 Billion Offer-Reuters

Reuters reported that Micron Technology, Inc. has won the right to negotiate exclusively to buy Japanese chip maker Elpida Memory, Inc. after offering more than JPY200 billion ($2.5 billion) for the company. In the final round of bidding to buy Elpida, which closed last Friday, the U.S. chipmaker also offered to keep the company's two main factories in Japan open and to guarantee jobs for current employees for the time being. Micron's offer was accepted by Elpida's trustees and management, although a final restructuring plan will still require the approval of a local court and Elpida's creditors.