Date: Oct 12, 2016
By: Lisa Wang / Staff reporter
Micron Technology Inc yesterday agreed to close the NT$132.5 billion (US$4.19 billion) buyout of its Taiwanese DRAM manufacturing arm in early December, ending months-long speculation about a potential collapse of the deal.
Inotera Memories Inc (華亞科), 33 percent owned by Micron, yesterday said its board has approved the deal with Micron’s local subsidiary Micron Taiwan Co (台灣美光) at NT$30 per common share in cash.
Inotera is to be delisted from the Taiwan Stock Exchange on Dec. 6, after Micron wraps up the purchase of its remaining 67 percent stake in Inotera, the chipmaker said.
The transaction was originally scheduled to be closed in the middle of July, but Micron postponed the deal in June. [FULL STORY]