X-bit Labs reports Micron is going to buy bankrupt memory maker Elpida's assets for ¥200 billion ($2.5 billion):
The list of potential companies to acquire Elpida was narrowed down in May, when Micron gained exclusive rights to bid for the insolvent DRAM manufacturer. Micron Technology has since assessed Elpida production facilities and technologies and held negotiations on debt forgiveness with creditors of Elpida, including financial institutions, leasing companies, and major holders of Elpida bonds, reports Nikkei.
As a result of the negotiations, Micron will have to pay ¥200 billion ($2.5 billion) for Elpida's manufacturing facilities, intellectual properties and other assets. Of ¥200 billion, around ¥140 billion will be paid to creditors of Elpida, while the rest will go to Elpida's business partners who hold uncollateralized loan claims.