Japan Fair Trade Commission clears acquisition of Elpida by Micron

Jessie Shen, DIGITIMES, Taipei [Saturday 22 December 2012]

The Japan Fair Trade Commission has cleared Micron Technology's acquisition of bankrupt Japan-based Elpida Memory, according to the US memory chipmaker.

Clearance under Japan's Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (Act No. 54 of April 14, 1947) satisfies one of the conditions necessary for the consummation of the deal between Micron and Elpida. The deal has also cleared pre-merger reviews in the US, Czech Republic and Korea, Micron revealed.

The closing of Micron's Elpida acquisition remains subject to other conditions, including approval by Elpida creditors, the Tokyo District Court and regulatory approvals in other countries, and is expected to be completed in the first half of 2013, Micron said.

Micron added that Elpida's proposed reorganization plan was submitted to the Tokyo District Court on August 21, 2012, and the court approved the submission of Elpida's proposed reorganization plan to creditors on October 31.