Japan's Elpida Memory reiterated on Wednesday that it is in talks with banks about refinancing loans and with clients about investments and prepayments, but declined to confirm a media report it was seeking a tie-up with Micron Technology as it confronts a debt repayment deadline. The Yomiuri newspaper reported that Elpida, a maker of DRAM chips that is struggling with weak prices and stiff competition from South Korean rivals, had informed its main bank it was seeking an alliance with U.S.-based Micron."There has been a report of a capital and operational tie-up, but this is not something that our company has announced," Elpida said in a statement released to the Tokyo Stock Exchange.Elpida shares surged more than 10 percent after the Yomiuri report.
Micron Technology, Inc. is a manufacturer and marketer of semiconductor devices, principally dynamic random access memory (DRAM), Nandi Flash memory (NAND Flash and NOR Flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Shares of MU fell by 0.97% or $-0.07/share to $7.16. In the past year, the shares have traded as low as $3.97 and as high as $11.95. On average, 31487500 shares of MU exchange hands on a given day and today's volume is recorded at 30653322.
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