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Micron completes acquisition of Inotera Memories
Micron Technology has completed the acquisition of Inotera Memories, Inc. Micron acquired all of Inotera's outstanding shares for consideration worth NTD 30 or approximately USD 0.94 per share.
The share price represents a transaction value of approximately USD 4.0 billion, net of cash and debt at Inotera, to acquire the equity not already owned by Micron.
"We are excited to finalize the Inotera acquisition which will generate significant financial and strategic benefits for the company," said Micron CEO Mark Durcan. "We expect immediate accretion to DRAM gross margins, earnings per share and free cash flow along with enhanced operational efficiency as we align Inotera with our global manufacturing operations."
