Elpida Memory Inc won court approval for technology deals over the objections of U.S. bondholders, who argued the agreements were an attempt to bind the bankrupt chipmaker to a proposed $2.5 billion sale to Micron Technology Inc. A U.S. Bankruptcy Court judge in Delaware found no evidence of collusion or improper motives Thursday in Elpida's technology licensing deals with Micron and a $15 million patent sale to Rambus Inc.U.S. bondholders opposed the deals because they said they would effectively tie Elpida to its proposed sale and were unfairly beneficial to Micron."The bondholders do not cite any facts to contest the proof that these agreements confer substantial benefits on Elpida's estate," Judge Christopher Sontchi said in his 43-page opinion.Elpida said it would be able to immediately begin improving its operations thanks to the licensing agreements with Micron. Elpida's lawyers have described the objections to the technology agreements as attacks on the Micron deal itself.
Micron Technology, Inc., is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products. Shares of MU traded higher by 1.96% or $0.15/share to $7.82. In the past year, the shares have traded as low as $5.16 and as high as $9.16. On average, 25227600 shares of MU exchange hands on a given day and today's volume is recorded at 2717312.
Rambus, Inc. is a United States-based company that operates as a technology licensing company focusing on the development of technologies in the electronics industry. Shares of RMBS traded higher by 1.73% or $0.09/share to $5.29. In the past year, the shares have traded as low as $3.78 and as high as $9.29. On average, 643421 shares of RMBS exchange hands on a given day and today's volume is recorded at 43567.
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