Micron Confirms Chinese Antitrust Clearance
On Tuesday, Micron Technology confirmed that it has obtained antitrust clearance from China's Ministry of Commerce for its acquisition of DRAM memory maker Elpida Memory. Pre-merger approvals had already been obtained from the U.S., Czech Republic, Japan, South Korea, Singapore, and Taiwan, leaving only China's assent as necessary for the merger to proceed.
In a statement, Micron noted that there are still a few "conditions" that need to be satisfied before closing. Notably, the Tokyo District Court must approve Elpida's reorganization plan, as must the United States Bankruptcy Court for the District of Delaware. Also, Elpida's own creditors have a vote scheduled to approve the plan on Feb. 26.
Still, assuming these hurdles can be overcome, Micron and Elpida plan to close the transaction in the first half of 2013.
The article Micron Confirms Chinese Antitrust Clearance originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.