Benefits of Micron's (MU) Deal to Acquire Remaining Stake in Inotera Seen as Slightly Puzzling, Says Analyst
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Micron Technology Agrees to Acquire Remaining Interest in Inotera Memories of Taiwan
December 14, 2015 2:00 AM ESTBOISE, Idaho, Dec. 14, 2015 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (NASDAQ: MU) and Inotera Memories today announced the signing of an agreement for Micron to acquire Inoteras remaining shares for consideration worth 30 New Taiwan Dollars per share or approximately $0.92 USD per share. Micron currently owns approximately 33 percent of Inotera. This represents a transaction value of approximately $3.2 billion, net of cash and debt at Inotera, to acquire the remaining equity.
We believe this is a compelling combination for both companies shareholders and employees, said Micron CEO Mark Durcan. The acquisition is the culmination of... More
