Citing a report on Japan’s NHK broadcasting system, Reuters reports this morning that DRAM maker Micron Technology Inc. (NASDAQ: MU) has topped the bidding for bankrupt Japanese chipmaker Elpida Memory. The winning bid is said to be around $2.5 billion.
Elpida filed for bankruptcy in February, and at that time Micron and Intel Corp. (NASDAQ: INTC) were said to be in the running to acquire the company. Micron reportedly made an offer of $1.5 billion at the time.
If the report is accurate, Micron may have found one way to keep DRAM prices from falling even more as well as a way to keep up in the race to integrate CPU, GPU, NAND flash and mobile DRAM chips onto a single chip.
Micron’s shares are up about 4.5% after a half-hour of trading this morning, at $6.76 in a 52-week range of $3.97-$11.13.
Paul Ausick
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
