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Micron Will Spend $2.5 Billion to Buy Elpida Memory – $MU

Micron Technology Inc. (MU) agreed to buy bankrupt Japanese chipmaker Elpida Memory Inc. in a transaction valued at 200 billion yen ($2.5 billion), gaining memory chip- making assets that may help it avert price swings that fueled four straight quarters of losses.

Micron will pay 60 billion yen in cash at the closing of the deal, while the remaining 140 billion yen in future annual installments through 2019 will come from cash flow generated by Boise, Idaho-based Micron’s payment for chips made by Elpida, according to a statement today.”

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