Toshiba

Is Micron's bid for Elpida the Deal of the Century?

Elpida Memory, Inc. (Elpida) filed for Chapter 15 protection from U.S. creditors in Delaware’s bankruptcy court on March 19, 2012, after it filed for company reorganization in the Tokyo District Court at the end of February. On July 2, 2012, Micron Technology, Inc. (Micron) announced a planned sponsorship agreement for $2.5 billion in order to purchase Elpida. An Ad Hoc group of Elpida bondholders filed a motion which objected to terms in the sponsorship agreement, stating that the agreement did not reflect the true value of Elpida.

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