Featured Articles

Android Wear installed on 50-100k phones

Android Wear installed on 50-100k phones

Android Wear is a companion app that you need in order to run your new Android Wear watch.

More...
AMD launches 45W desktop Kaveri parts, finally

AMD launches 45W desktop Kaveri parts, finally

AMD has finally launched three 45W Kaveri SKUs, which were in the works for months. The three chips feature configurable TDP,…

More...
Desktop Broadwell LGA is Socket 1150

Desktop Broadwell LGA is Socket 1150

Broadwell was supposed to come in 2014 and it will ship in the last quarter of this year for detachable thin…

More...
Nvidia officially launches the 8-inch Shield Tablet

Nvidia officially launches the 8-inch Shield Tablet

As expected and reported earlier, Nvidia has now officially announced its newest Shield device, the new 8-inch Shield Tablet. While the…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 01 November 2012 11:55

Tokyo court gives thumbs up to Micron

Written by Nick Farrell



Can buy Elpida


Micron's plan to buy Japanese memory chipmaker Elpida was given the thumbs up by a Tokyo court after it approved the agreement and dismissed a rival plan promoted by a group of bondholders.

The bankrupt Elpida's plan to be bought by Micron has been referred to creditors for approval. The court dismissed a rival proposal by a group of bondholders, led by hedge funds Linden Advisors, Owl Creek Asset Management and Taconic Capital Advisors, who have said the $2.5-billion price tag grossly undervalues Elpida.

They argued that that the company is worth $3.78 billion. However Elpida was driven into bankruptcy by falling chip sales and foreign competition. Micron is losing money due to a crumbling PC industry, wants to create larger economies of scale and offered in early July to buy Elpida for about $750 million in cash and to pay creditors a total of $1.75 billion in annual instalments through 2019.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments