Deal with Micron to be completed in December: Inotera

Focus Taiwan
Date: 2016/10/05
By: Jackson Chang and Frances Huang

Taipei, Oct. 5 (CNA) A deal through which U.S.-based Micron Technology Inc. will acquire Taiwanese 201610050024t0001DRAM chip maker Inotera Memories Inc. (華亞科) is scheduled to be completed in December, the Taiwanese firm said Wednesday.

The announcement by Inotera relieved many investors, as fears faded that the acquisition will fall apart. The fears mounted after Micron postponed the deal in a statement released in early June without giving a reason. The U.S. suitor had previously planned to complete the deal in mid-July.

While the local main board suffered some selling throughout the trading session to close down 0.17 percent Wednesday, shares of Inotera bucked the downturn, soaring 4.28 percent to end at NT$29.25 (US$0.93).

The Inotera announcement came after it and Micron reached a consensus to complete the acquisition deal in the first half of December after the delay. Inotera has scheduled a board meeting for November to come up with an exact timeframe for completion of the acquisition.     [FULL  STORY]

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