Bloomberg News

Micron Gains on Report That Elpida Deal Won’t Be Costly

May 16, 2012

Micron Technology Inc. (MU:US), the only remaining U.S. maker of computer memory, rose the most in more than two months after an analyst estimated the possible purchase of a bankrupt rival would drain less cash than anticipated.

Micron, which has said it’s in talks to buy Tokyo-based Elpida Memory Inc., will use about a $1 billion in cash and get the remaining $1.7 billion in financing from Japanese lenders, Daniel Amir, a Lazard Capital Markets analyst, said in a report.

Micron rose 5.8 percent to $6.37 at 11:28 a.m. New York time, after advancing as much as 8.5 percent, the biggest intraday gain since Feb. 27. The stock had lost 4.3 percent this year before today.

To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.net;

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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Companies Mentioned

  • MU
    (Micron Technology Inc)
    • $32.8 USD
    • 0.03
    • 0.09%
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