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$MU Moves One Step Closer to Acquiring Elpida Memory

“Elpida Memory Inc won court approval for technology deals over the objections of U.S. bondholders, who argued the agreements were an attempt to bind the bankrupt chipmaker to a proposed $2.5 billion sale to Micron Technology Inc. A U.S. Bankruptcy Court judge in Delaware found no evidence of collusion or improper motives Thursday in Elpida’s technology licensing deals with Micron and a $15 million patent sale to Rambus Inc.U.S. bondholders opposed the deals because they said they would effectively tie Elpida to its proposed sale and were unfairly beneficial to Micron.”The bondholders do not cite any facts to contest the proof that these agreements confer substantial benefits on Elpida’s estate,” Judge Christopher Sontchi said in his 43-page opinion.Elpida said it would be able to immediately begin improving its operations thanks to the licensing agreements with Micron. Elpida’s lawyers have described the objections to the technology agreements as attacks on the Micron deal itself….”

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