Micron and Elpida Announce Expiration of Hart-Scott Rodino Waiting Period
Micron Technology (NASDAQ: MU) ("Micron") and Elpida Memory, Inc. ("Elpida") today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act"), has expired in connection with Micron's previously announced acquisition of Elpida. Expiration of the waiting period under the HSR Act satisfies one of the conditions necessary for consummation of the transaction.
The closing of the transaction remains subject to other conditions—including approval by Elpida creditors, the Tokyo District Court and regulatory approvals in other countries—and is expected to be completed in the first half of calendar 2013. Elpida's reorganization plan was submitted to the Tokyo District Court in mid-August, 2012.
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,