Pompano Beach, FL -- (SBWIRE) -- 01/07/2013 -- Semiconductor maker Micron Technology (NYSE:MU) predicted to finish its $730 million takeover of bankrupt chip supplier Elpida by initial half of this year, Micron CEO Mark Duncan reported on an earnings call.
The ending of the takeover is waiting for a vote by Elpida creditors that’s projected by February, he added. Elpida’s restructuring plan, which was given to creditors this fall, also is going through a “phase 1” assessment in China, Duncan reported.
What will Micron Technology’s anticipated purchase will effect on shares? Find in this report
Elpida created the initial 4 GB DDR3 DRAM, a product Micron also sells, and was the initial memory supplier to sample 25 nanomter chips.
Shares of Micron Technology were trading up after the news and after last check were seen at 3.59%.
Citigroup republished their buy rating on stock of Micron Technology (NYSE: MU) in a report published on Monday. Citigroup presently has a target price of $10.00 on the stock.
Microsoft Corporation (NASDAQ:MSFT) is witnessing an awkward issue as the burglars recently broke into one of its offices but stole only five iPads and left many expensive MS devices.
Will Microsoft clear its image before CES? Click here to get answer
Microsoft Corporation (NASDAQ:MSFT) shares were trading just below the trend line as the company witnesses a blot of robbery of rivals devices from its office. Shares were edging down -0.13% during Monday’s trading session.
In separate news Microsoft Corp. (MSFT), the world’s largest software manufacturer inked a lease for offices at 11 Times Square, a midtown Manhattan skyscraper that was finished in 2011.
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