Micron Notes Appeal of Tokyo District Court's Approval of Elpida Reorganization Plan
“Elpida trustees and the court ran a very thorough and competitive sponsor selection process before selecting Micron as the sponsor,” said Micron CEO Mark Durcan. “Their decision and plan of reorganization was confirmed by the successful vote of the creditors in February. We are confident the Tokyo District Court‘s approval of Elpida’s reorganization plan will be upheld.”
The closing of the transaction remains subject to the satisfaction or waiver of certain conditions—including finalization of the Tokyo District Court‘s approval order under Japanese bankruptcy rules and recognition of Elpida’s reorganization plan by the United States Bankruptcy Court for the District of Delaware (or the completion or implementation of alternative actions providing a substantially similar effect). It is estimated the appeal process of the Tokyo District Court's approval order will take approximately three to four months.
About Micron
Micron Technology, Inc., is one of the world‘s leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Micron’s common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
Website: http://www.micron.com
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Daniel Francisco
Micron Media Relations
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This news is a press release provided by Micron Technology. Korea Newswire follows these editorial guidelines.
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2014년 11월 19일 23:00
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2014년 7월 28일 21:00