Failed chipmaker Elpida Memory Inc said a Japanese court has again delayed its ruling on two competing plans to restructure the company. A committee set up by the court to examine plans involving a takeover by U.S. rival Micron Technology Inc and rival one from a group of Elpida bondholders is now expected to make a recommendation by Oct. 29, one month later than earlier estimated, Elpida said in a statement posted on its website on Friday.The court will make a final decision based on the recommendation.Elpida filed for bankruptcy in February in the largest corporate failure among Japanese manufacturers. Saddled with 482 billion yen ($6.2 billion) in liabilities, Elpida has agreed to be bought by Micron.The company's bondholders in August submitted a restructuring plan to the Tokyo District Court after disagreeing with a proposal drawn up by Elpida's court-appointed administrator which endorses the deal with Micron.
Micron Technology, Inc. is a global manufacturer and marketer of semiconductor devices, principally Dynamic Random Access Memory (DRAM), NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial and mobile products. Shares of MU remained unchanged at $5.84. In the past year, the shares have traded as low as $3.97 and as high as $9.16. On average, 28233900 shares of MU exchange hands on a given day and today's volume is recorded at 0.
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